Corporate Banner
Satellite Banner
Cell Culture
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 2,400+ scientific posters on ePosters
  • More than 3,600+ 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 Agrees to Buy Alfa Aesar for $403M
The company announced a definitive agreement to buy the research chemical manufacturer for $403 million.
Friday, June 26, 2015
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 Reports 22% Revenue Rise in Q1 2014
Results include the addition of Life Technologies as of February 4, 2014, and exclude the previously announced related divestitures as of March 22, 2014.
Wednesday, April 23, 2014
Thermo Completes Sale of Certain Assets to GE
Thermo has completed the sale of its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare for $1.065 billion.
Monday, March 24, 2014
Thermo Reports 6% Q4 Revenue Growth
Thermo Fisher Scientific Inc. reported its financial results for the fourth quarter and full year ended December 31, 2013.
Friday, January 31, 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
Record Revenues for Thermo Fisher Scientific
Revenue for the quarter grew 6% to $3.26 billion in 2012, versus $3.09 billion in 2011.
Thursday, January 31, 2013
Scientific News
DNA Damage Seen in Patients Undergoing CT Scanning
Along with the burgeoning use of advanced medical imaging tests over the past decade have come rising public health concerns about possible links between low-dose radiation and cancer.
Yeast Cells Use Signaling Pathway to Modify Their Genomes
Researchers at the Babraham Institute and Cambridge Systems Biology Centre, University of Cambridge have shown that yeast can modify their genomes to take advantage of an excess of calories in the environment and attain optimal growth.
New Material Forges the Way for 'Stem Cell Factories'
Researchers have discovered the first fully synthetic substrate with potential to grow billions of stem cells. The researchcould forge the way for the creation of 'stem cell factories' - the mass production of human embryonic (pluripotent) stem cells.
New Measurements Reveal Differences Between Stem Cells for Treating Retinal Degeneration
By growing two types of stem cells in a “3-D culture” and measuring their ability to produce retinal cells, a team lead by St. Jude Children’s Research Hospital researchers has found one cell type to be better at producing retinal cells.
Researchers Identify Critical Genes Responsible for Brain Tumor Growth
After generating new brain tumor models scientists have identified the role of a family of genes underlying tumor growth in a wide spectrum of high grade brain tumors.
Growing Spinal Disc Tissue
Scientists develop new method for growing spinal disc tissue in the lab for combating chronic back pain.
A New Path Towards a Universal Flu Vaccine
New research suggests it may be possible to harness a previously unknown mechanism within the immune system to create more effective and efficient vaccines against this ever-mutating virus.
Potential New Class of Cancer Drugs
Scientists have found a way to stop cancer cell growth by targeting the Warburg Effect, a trait of cancer cell metabolism that scientists have been eager to exploit.
Human Trials of Manufactured Blood Within Two Years
The first human trials of lab-produced blood to help create better-matched blood for patients with complex blood conditions has been announced by NHS Blood and Transplant.
How Anthrax Spores Grow in Cultured Human Tissues
New findings to help predict risk and outcomes of anthrax attacks.
SELECTBIO

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
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,600+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!