NEW YORK (GenomeWeb News) – Thermo Fisher Scientific today announced it has signed a definitive agreement to buy reagents manufacturer Fermentas International for $260 million in cash.
The deal is expected to close in the third quarter and is not anticipated to have a material impact on Thermo Fisher's 2010 financial results, the company said in a statement.
Based in Burlington, Ontario, with principal operations in Vilnius, Lithuania, Fermentas employs about 500. In 2009, it posted revenues of about C$57 million ($54 million).
Among the products offered by Fermentas are reagents for nucleic acid and protein purification, restriction and modifying enzymes, molecular weight markers, and other life science research and diagnostic tools. It also offers various products for polymerase chain reaction, reverse transcription PCR, and quantitative PCR.
The acquisition of Fermentas will allow Thermo Fisher to better meet the demands of cellular and molecular biologists "for complete workflows that can accelerate their research and improve results," said Marc Casper, president and CEO of Thermo Fisher.
In March, Thermo Fisher completed its acquisition of Finnzymes, whose product portfolio includes proprietary DNA polymerases. Together, the Fermentas and Finnzymes acquisitions, along with the recent launch of Thermo Fisher's Solaris qPCR assay "enables us to strengthen our depth of capabilities in the high-growth PCR market," Casper added in the statement.