Invitrogen to Acquire Molecular Probes for $325M — Six Times Revenue
Invitrogen has bought privately held Molecular Probes for $325 million in cash — a whopping six times what the company earned in sales last year.
With the sale, expected to close during the current quarter, Invitrogen hopes to position itself in the drug-discovery and -development sector, CEO Greg Lucier said in a statement.
Molecular Probes, of Eugene, Ore., makes and sells fluorescence-based technologies. The company was founded in 1975, and had $56 million in revenues in 2002.