NEW YORK (GenomeWeb News) – Thermo Fisher Scientific said after the close of the market Monday that it will acquire Finnzymes for an undisclosed sum.
Espoo, Finland-based Finnzymes makes reagents, consumables, kits, and instruments for molecular biology applications. Its proprietary DNA polymerases, called Phire and Phusion, and high-speed miniaturized thermal cyclers will expand Thermo Fisher's portfolio of reagents and other consumables for the molecular biology research and diagnostics markets.
"The addition of Finnzymes’ innovative enzyme portfolio and unique PCR instrument platform strengthens our broad range of life science reagents and consumables, as well as our specialty diagnostics product offering,” Marc Casper, president and CEO of Thermo Fisher, said in a statement.
Finnzymes employs 90 people and generated revenues of $20 million in 2009, according to Thermo Fisher. The acquired firm will be integrated into Thermo Fisher's Analytical Technologies Segment, with some equipment and consumables product lines being added to ita Laboratory Products and Services Segment.
The firms expect to close the deal during the first quarter of 2010. Thermo Fisher added that Finnzymes' operations are not expected to have a material impact on its 2010 financial results.