NEW YORK – Danaher subsidiary Integrated DNA Technologies (IDT) said on Thursday that it has acquired next-generation sequencing library preparation firm Swift Biosciences.
Swift employees and products will transition into IDT while continuing to operate from Swift's existing facilities in Ann Arbor, Michigan. Financial and other terms of the deal were not disclosed.
Swift's "broad portfolio of library preparation and enrichment products are highly complementary to IDT's existing NGS product line, giving us an increased ability to provide gold-standard offerings to researchers and to be well positioned for future growth," IDT President Trey Martin said in a statement."
"Since entering the NGS market in 2013, Swift's mission has been to provide research tools for long-term improvements in the health of individuals and their communities all around the world," Swift CEO and President Nathan Wood added in a statement. "IDT has the commercial engine, operational tools, and resources to catalyze these efforts."
Danaher acquired Coralville, Iowa-based IDT in 2018 for an estimated $1.9 billion, but said it would operate it as a standalone company. Revenues for IDT grew in the double digits in Q4 2020.