Corporate Banner
Satellite Banner
Food & Beverage Analysis
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 Fisher, NRLs Team to Confirm Dioxins in Feed and Food
Thermo Fisher Scientific worked closely with national reference labs (NRLs) in the European Union to support the development of new regulation.
Monday, September 08, 2014
Reimagining UHPLC
To learn more about the new Vanquish UHPLC system from Thermo Fisher Scientific we spoke to Wulff Niedner, Director of HPLC Product Marketing.
Thursday, July 17, 2014
Thermo, USDA-ARS and Penn State to Collaborate on Food Safety Testing
Industry, academic and government partners to characterize and develop rapid genetic tests for toxic E. coli species
Wednesday, May 21, 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 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
Thermo Fisher Scientific Expands Access to Peanut Allergy Tests
The Thermo Scientific ImmunoCAP peanut component tests are now available through the co-marketing and distribution collaboration with Quest Diagnostics.
Wednesday, August 21, 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
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
Denmark’s National Food Institute Adopts Thermo Scientific ICP-MS
iCAP Q ICP-MS system to speciate arsenic and measure nanoparticles in food.
Tuesday, December 18, 2012
Scientific News
Decrease in Foodborne Outbreaks in Denmark
Almost every other registered salmonella infection in Denmark in 2014 was brought back by Danes travelling overseas.
How Safe Is Your Ground Beef?
If you don’t know how the ground beef you eat was raised, you may be putting yourself at higher risk of illness from dangerous bacteria. You okay with that?
Sweeteners Detected in Human Breast Milk
New data show that multiple types of NNS can be passed to nursing infants.
Food Science Team Finds Key to Tasty, Salt-Reduced Bread
Three food science researchers at the University of Alberta have discovered how to reduce salt in bread by half without compromising its taste or texture.
Yorkshire Scientists Could Hold Key to Preventing Future Horsemeat Scandals
Incidents like the horse meat scandal, which caused extensive damage to the UK’s farming and retail industry, could be consigned to the past thanks to revolutionary technology developed in the UK.
Detecting Hidden Ingredients
Researchers from China have used mass spectrometry to reveal the use of undeclared substances in dietary supplements.
Study Questions Presence in Blood of Heart-Healthy Molecules from Fish Oil Supplements
A new study from the Perelman School of Medicine at the University of Pennsylvania questions the relevance of fish oil-derived SPMs and their purported anti-inflammatory effects in humans.
How To Keep Your Rice Arsenic-Free
Researchers at Queen’s University Belfast have made a breakthrough in discovering how to lower worrying levels of arsenic in rice that is eaten all over the world.
Pesticide Found in 70 Percent of Massachusetts’ Honey Samples
New Harvard University study says that the pesticide commonly found in honey samples is implicated in Colony Collapse Disorder.
Printed "Smart Cap" Detects Spoiled Food
It might not be long before consumers can just hit “print” to create an electronic circuit or wireless sensor in the comfort of their homes.
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
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!