Merck KGaA Buys Bangalore 'Omics Firm
News Oct 30, 2009
Merck KGaA said that it has bought Bangalore Genei (India) Private (BGIP), which makes and sells 'omics tools, through its Merck Specialties subsidiary for an undisclosed sum.
Merck acquired the Bangalore-based firm, which specializes in making and selling genomics and proteomics research products, from the Sanmar Group. The company employs over 100 people and had revenues of around INR202 million ($4.4 million) in fiscal year 2009.
"BGIP's leadership in the Indian academic market, a segment with high growth potential, will ideally complement our existing customer base," Christina Shasserre, global head of Merck's bioscience business, said in a statement. "BGIP's product portfolio comprises a wide range of bioscience products, which are tailored to the needs of the domestic market in India."
Financial terms of the agreement were not released.