NEW YORK, July 2 - Carlsbad, Calif.-based Invitrogen today announced the purchase of privately-held Molecular Probes of Eugene, Ore., in a $325 million cash transaction expected to close in the third quarter.
The acquisition brings together Invitrogen, a genomic research reagents, software and service provider with 28-year-old Molecular Probes, a provider of fluorescence-based technologies. With a market capitalization of nearly $2 billion, Invitrogen reported revenues of $181 million for the third quarter ending March 31.
Molecular Probes, founded in 1975, had revenues of $56 million in 2002, Invitrogen said.
With the sale, Invitrogen is aiming to position itself in the drug discovery and development sector, Greg Lucier, the company's CEO said in a statement.