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Thermo Fisher Scientific (NYSE: TMO), Waltham, MA, has agreed to acquire Life Technologies Corp. (NASDAQ: LIFE), Carlsbad, CA, for $13.6 billion, plus the assumption of $2.2 billion in net debt. The combination builds on both companies’ technological strengths to accelerate results for life sciences customers working in proteomics, genomics and cell biology.
Marc N. Casper, president and CEO of Thermo Fisher Scientific, said, “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.”
Life serves customers conducting scientific research and genetic analysis, as well as those in applied markets, such as forensics and food safety testing. With 2012 revenues of $3.8 billion, its offering includes reagents, consumables, instruments and systems.
Life has an extensive offering of consumables for genomics, and molecular and cell biology. It is well-known for its next-generation sequencing capability, and also has a range of technologies for bioproduction and forensics applications. Life transacts more than half of its orders online through a highly regarded e-commerce platform.
It is expected that Life Technologies’ president and chief operating officer, Mark P. Stevenson, will have a significant leadership role in the combined company. In addition, Thermo Fisher intends to elect a member of the Life Technologies board of directors to the Thermo Fisher board.
The transaction is expected to close early in 2014.