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Integrated DNA Technologies to Acquire Oligo Business From AITbiotech

NEW YORK (GenomeWeb) – Integrated DNA Technologies said today that it has entered into a definitive agreement to acquire the oligonucleotide business of Singapore's AITbiotech.

Founded in 2008, AITbiotech provides a complete suite of genomics services to research, healthcare, and biomedical industries in Singapore and Asia. It will continue its operations in other core business areas.

IDT offers a broad range of custom, synthetic nucleic acids for molecular biology applications, including qPCR, sequencing, synthetic biology, and functional genomics. It said that the acquisition expands its customer base across Southeast Asia.

"We share a commitment with IDT to produce consistently high-quality oligos and to provide personal service for customers," AITbiotech CEO Alex Thian said in a statement. "Both companies are working diligently to facilitate a smooth transition of the business and we are excited to begin this next chapter in the ever expanding Singapore market."

Financial terms of the agreement were not disclosed.