Corporate Banner
Satellite Banner
AgriGenomics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Thermo Completes Life Tech Acquisition

Published: Tuesday, February 04, 2014
Last Updated: Tuesday, February 04, 2014
Bookmark and Share
The completion of the transaction follows the receipt of all required regulatory approvals.

Thermo Fisher Scientific  announced that it has completed its acquisition of Life Technologies Corporation for $76.13 ($76.1311786) in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of $1.5 billion in net debt. 

“We are pleased to announce that this transaction is now complete, and excited about our opportunity to create unrivaled leadership in serving research, life sciences, specialty diagnostics and applied markets,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “Our combined offering provides cutting-edge technologies, such as genomics and proteomics, to accelerate life sciences research and improve human health. And our complementary strengths in biosciences and bioprocessing will accelerate drug discovery, development and production. With the addition of Life Technologies, we are in an even stronger position to help our customers achieve their goals for innovation and productivity.”

Business Segments

With the acquisition of Life Technologies, Thermo Fisher has established a new reporting segment, called Life Sciences Solutions. Mark Stevenson, who served as chief operating officer of Life Technologies, has been named an executive vice president and president of Life Sciences Solutions, reporting directly to Casper.

Effective January 1, 2014, the company’s financial performance will be reported in four segments reflecting the following changes:

• The new Life Sciences Solutions Segment will consist of the majority of the former Life Technologies and Thermo Fisher Biosciences businesses.

• Thermo Fisher’s Global Chemicals business will move from the Biosciences business to the Laboratory Products and Services Segment.

• Thermo Fisher’s Analytical Technologies Segment will be renamed Analytical Instruments to reflect the transfer of the Biosciences businesses to other segments, as mentioned above.

• Two small specialty diagnostics businesses within Life Technologies will become part of the Specialty Diagnostics Segment.

• As previously announced, Thermo Fisher has agreed to sell its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare for $1.06 billion.

In connection with the completion of the transaction, Life Technologies stock ceased trading on The NASDAQ Stock Market following market close today.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Thermo Fisher Q3 Revenues up 31 Percent
Thermo Fisher announced that revenues grew 31% to $4.17 billion for the third quarter ended September 27, 2014.
Thursday, October 23, 2014
Thermo Receives EC Clearance for Life Tech Acquisition
Thermo Fisher Scientific announced that it has received approval from the European Commission (EC) for its pending acquisition of Life Technologies Corporation.
Tuesday, November 26, 2013
Thermo Fisher Scientific Establishes Pesticide Analysis Center of Excellence
The center helps users apply the latest technology and expertise to challenging pesticide analysis in food and environmental laboratories.
Thursday, August 15, 2013
Thermo Fisher Scientific's MS Technology Selected by Victoria's Agricultural Biosciences Research Center
Thermo is outfitting a new research center, AgriBio, with a AU$2.5 million of mass spectrometry technology.
Wednesday, July 14, 2010
Thermo Fisher Scientific Goes Global with Food Safety Seminar Series
The global seminar program will take place across the U.S., Canada, Europe, Southeast Asia and Japan to explore global perspectives on food safety.
Friday, August 28, 2009
Scientific News
Marijuana Genome Unraveled
A study by Canadian researchers is providing a clearer picture of the evolutionary history and genetic organization of cannabis, a step that could have agricultural, medical and legal implications for this valuable crop.
Grape Waste Could Make Competitive Biofuel
The solid waste left over from wine-making could make a competitive biofuel, University of Adelaide researchers have found.
Accelerating Forage Breeding to Boost Livestock Productivity
International expert skill-sets in genomics and bioinformatics enhance our capacity to breed improved forages for Africa.
Firefly Protein Enables Visualization of Roots in Soil
A new imaging tool from a team led by Carnegie’s José Dinneny allows researchers to study the dynamic growth of root systems in soil, and to uncover the molecular signaling pathways that control such growth.
So Long, Snout
Research helps answer how birds got their beaks.
The Tree of Life — More Like A Bush
New species evolve whenever a lineage splits off into several. Because of this, the kinship between species is often described in terms of a ‘tree of life’, where every branch constitutes a species.
Algae Nutrient Recycling is a Triple Win
Sandia method cheaper, greener and cuts competition for fertilizer.
Non-Transgenic Rapeseed Product Launched For Chinese Market
Cibus and Rotam have announced a new agreement to cooperate in the development of herbicide-tolerant rapeseed in China.
TGAC Leads Development to Diminish Threat to Vietnam’s Most Important Crop
Advanced bioinformatics capabilities for next-generation rice genomics in Vietnam to aid precision breeding.
BESC Creates Microbe That Bolsters Isobutanol Production
Another barrier to commercially viable biofuels from sources other than corn has fallen with the engineering of a microbe that improves isobutanol yields by a factor of 10.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!