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Life Tech Acquires Korean Reagent Distributor

NEW YORK (GenomeWeb News) – Life Technologies today said that it has acquired Korean reagents distributor KDR Biotech for an undisclosed amount.

The Seoul, South Korea-based firm has served as Life Tech's primary reagent distributor in the country since 1982. Life Tech said the deal will allow it to reach a larger customer base in the life sciences market in Korea, and it noted that it will continue to offer other non-Life Tech products that have been part of KDR's portfolio.

"The acquisition of KDR Biotech is in line with Life's Asia-Pacific Japan strategy to further develop customer relationships, improve the customer experience, and increase revenue in the fast-growing South Korean biotechnology market, in addition to Life's overall strategy of expanding our footprint into strong growth and emerging markets," Mark Smedley, president of Life Technologies, Asia-Pacific Japan region, said in a statement.

KDR's current employees will become part of Life Technologies Korea. Its CEO, Jong-moon (Arnold) Kim, will serve as an external advisor to Life Tech during the transition.

Further terms of the deal were not disclosed.

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