NEW YORK (GenomeWeb News) - Fluorotechnics of Sydney, Australia, has agreed to acquire ETC Elektrophorese-Technik, a provider of DNA and protein electrophoresis consumables and equipment based in Kirchentellinsfurt, Germany.
Fluorotechnics said it will buy all of ETC’s issued shares in exchange for an undisclosed number of its own shares. The company did not disclose the financial value of the transaction.
ETC makes electrophoresis consumables and equipment used for diagnostics, quality control, and species identification, while Fluorotechnics makes fluorescent research tools used in proteomics, cell biology, and biochemistry.
The integrated company will maintain its manufacturing bases in Sydney and Kirchentellinsfurt.
Fluorotechnics CEO Duncan Veal will remain in his post and Hanspeter Schickle, CEO of ETC, will slide into the role of head of electrophoresis product development.
“This acquisition will allow us to cross-sell products to existing customers and to address new markets utilizing our joint expertise,” Veal said in a statement.