IDT Acquires MBiotech
News Jun 03, 2016
Integrated DNA Technologies (“IDT”) has acquired MBiotech, Inc. (“MBiotech”), headquartered in Seoul, South Korea. MBiotech has been a distributor of IDT products for more than a decade. In its promotion of IDT products, MBiotech has successfully made IDT’s brand well-known throughout the South Korean peninsula.
The company also distributes products for other manufacturers. These other products include reagents, enzymes, kits, consumables and lab equipment. Moving forward, IDT will continue MBiotech’s distribution activities of other manufacturers’ products and plans to keep day-to-day operations unchanged.
Dr Joseph A. Walder, IDT founder and chief executive officer, commented, “IDT has enjoyed a long-standing relationship with MBiotech. We respect and welcome them into the company. MBiotech’s local-language website, efficient operations, and extensive distributor base make it a valuable asset.”
Joshua Lee, founder, president and CEO of MBiotech said, “We share IDT’s commitment to excellent customer service and quality. We are very pleased to become part of the IDT family. As one company, we will be able to offer better service to our Korean customers and those in our global markets.”