NEW YORK, Feb. 22 - The Degussa Group on Friday said it plans to acquire Genset Oligos, the oligonucleotide division of Paris-based Genset, for $21.5 million. Degussa, based in Dusseldorf, Germany, said it intends to merge it with Proligo, its Boulder, Colo.-based subsidiary.
"The industrial experience held by Genset Oligos will make Proligo a fully integrated supplier of nucleic acid specialties," Degussa said in a statement. The acquisition will also provide Proligo, which it acquired in August 2001, with an immediate global sales channel for its oligo probes.
The transaction is expected to close at the end of March.
Degussa said that after it acquires Genset Oligos, manufacturing sites will be located in the US, Germany, France, Japan, Singapore, and Australia. Proligo will continue to be headquartered in Boulder.
"Combining the know-how of Proligo and Genset Oligos will enable us to consistently expand our nucleic acid activities and position us to access the global biotechnology research market," Wolfgang Pieken, president and CEO of Proligo, said in the statement.