NEW YORK, Feb. 8 (GenomeWeb News) - Invitrogen plans to purchase Norwegian magnetic bead maker Dynal Biotech from its majority owner, Nordic Capital, and a co-investor for 2.5 billion Norwegian kroner ($380 million), the company said today.
Dynal Biotech, based in Oslo, provides magnetic bead-based separation technologies that are used in cell separation and purification, cell stimulation, protein research, nucleic acid research, and microbiology.
Invitrogen plans to integrate the company's Dynabead technology to enhance its own products for assay development, RNA interference, DNA cloning, proteomic analysis, and screening applications. It also plans to couple Dynabeads with targeted antibodies from Zymed Laboratories, another company Invitrogen is currently acquiring.
The acquisition is scheduled to close by the end of March. Invitrogen expects Dynal, which has more than 400 employees in Norway, the US, the UK, and China, to create $74 million in revenues from April until the end of the year.