Thermo Fisher grabs Lithuanias's biotech star
Vilnius - Thermo Fisher Scientific has bought buys Fermentas International, one of Lithiania's biggest biotechnology outfits for EUR212 million. Fermentas, with headquarters in Burlington, Canada, and principal operations in Vilnius, Lithuania, is a producer of enzymes, reagents and other materials for molecular and cellular biology research. The company, with 500 employees, had full-year revenues of approximately EUR45 million in 2009.
With the acquisition of Fermentas and the recently bought Finnzyme, Thermo Fisher aims to acheive a stronger standing in the high-growth PCR market. Fermentas offers a variety of products for polymerase chain reaction (PCR), reverse transcription PCR (RT-PCR) and quantitative real-time PCR (qRT-PCR).
Fermentas will be integrated into Thermo Fisher Scientific's Analytical Technologies Segment. The transaction, which is subject to applicable regulatory approvals, is expected to close during the third quarter of 2010. The company does not expect this transaction to have a material impact on its 2010 financial results.