Life Technologies Acquires Life Science Korea
News Jun 14, 2013
Life Technologies Corporation announce the acquisition of leading instrument distributor, Life Science Korea (LSK) based in Seoul, South Korea. LSK has been Life Technologies' primary instrument distributor since 1994 and holds distribution rights to Applied Biosystems® products, including next-generation sequencing instruments, Sanger sequencing systems, forensics and PCR products.
"The acquisition of LSK is in line with our go-direct strategy in South Korea and builds on our current capabilities and platforms in this important market," said Mark Smedley, president of Life Technologies, Asia Pacific Japan region. "The combination of Life Technologies Korea and LSK — bolstered by our recent acquisition of consumables distributor KDR — enables us to offer one channel to serve the many different needs of our South Korean customers and to create a superior purchasing experience."
In addition to driving a superior customer experience, the combination of LSK and Life Technologies will help continue to build a strong Life Technologies brand in Korea to stimulate fast and sustainable growth and be well positioned to take advantage of Korea's focus on developing biotechnology. In the past five years, South Korea has shown solid growth in the biotechnology industry and with the Korean government's Bio-vision 2016 initiative, it's expected the country will continue to heavily invest in the life sciences industry.
LSK serves more than 1,000 customers in academia, government, pharmaceutical, biotech, hospitals and applied markets. Under the acquisition terms, the LSK name will become part of Life Technologies Korea. No other terms of the deal were announced.