Mergers & Acquisitions Union of Giants: Thermo Fisher Acquires Life Technologies
A union of giants in science and life science is just about to become reality: Today Thermo Fisher Scientific announced a multi–billion dollar plan to acquire Life Technologies, a leading life sciences company.
Waltham, Massachutes/USA – “We are extremely excited about this transaction because it creates the ultimate partner for our customers and significant value for our shareholders,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “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.”
Relying on Around 5,000 Patents – Innovation Galore at Life
Life provides products and services to 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 US $ 3.8 billion, its comprehensive offering includes a broad range of reagents, consumables, instruments and systems.
Life’s leading technologies are protected by approximately 5,000 patents and licenses, and it builds on this position through a strong commitment to innovation. Life has an expansive commercial presence and global footprint as well, with more than 10,000 employees serving its customers around the world.
“Able to Achieve Higher Levels of innovation and Productivity"
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.
“Our customers in research and applied markets will now be able to achieve even higher levels of innovation and productivity by working with the combined company. We’re especially excited about the new opportunities we will have to leverage our complementary offerings, fueled by a shared commitment to continuous innovation. For our shareholders, we expect the transaction to generate attractive financial returns, as well as significant and immediate accretion to our adjusted EPS,” Casper added.
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