Thermo Fisher to acquire Life Technologies for $13.6 billion

Skip to Navigation

News

  • Published: Apr 17, 2013
  • Author: Jon Evans
  • Suppliers: Thermo Fisher Scientific
  • Channels: Gas Chromatography / Electrophoresis / Laboratory Informatics / HPLC / Detectors / Ion Chromatography / Sample Preparation / Proteomics & Genomics

In the biggest corporate takeover so far this year, Thermo Fisher Scientific has agreed to buy Life Technologies for $13.6 billion. According to newspaper reports, Thermo Fisher Scientific had to beat off rival bids from Sigma-Aldrich and a private equity consortium.

'The acquisition of Life Technologies enhances all three elements of our growth strategy: technological innovation, a unique customer value proposition and expansion in emerging markets,' said Marc Casper, president and chief executive officer of Thermo Fisher Scientific. 'Strategically, we’ve created a very powerful company; [an] unrivalled industry leader with very bright prospects.'

Of particular interest for Thermo Fisher is Life Technologies' next-generation sequencing technology, which could help usher in a new era of personalized medicine. '[Life Technologies] provides consumables and instruments used to sequence and analyze DNA, including next-generation sequencing, a new capability that we’re extremely excited about,' said Capser. In addition, Life Technologies' strengths in capillary electrophoresis, cell biology, forensics and animal health should complement Thermo Fisher's leading position in mass spectrometry, liquid chromatography, food safety and environmental analysis.

Another attraction is Life Technologies' strong presence in emerging markets in Asia-Pacific, especially China. 'If you look at the geographic breakdown, the combination has meaningful scale in Asia Pacific and emerging markets,' said Casper. 'This is an important growth driver for us especially given the increased demand for healthcare and diagnostics.'

The new company will have combined sales of over $16 billion and the transaction should be completed by the beginning of 2014. Although Thermo Fisher plans to generate cost savings of $250 million by consolidating facilities and support functions, Casper said there were no current plans to prune the portfolio of either company.

Social Links

Share This Links

Bookmark and Share

Microsites

Suppliers Selection
Societies Selection

Banner Ad

Click here to see
all job opportunities

Most Viewed

Copyright Information

Interested in separation science? Visit our sister site separationsNOW.com

Copyright © 2017 John Wiley & Sons, Inc. All Rights Reserved