Millipore Completes Acquisition of Serologicals
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Millipore Corporation has announced that it has completed its acquisition of Serologicals following approval by Serologicals' shareholders last week.
The acquisition will transform Millipore into a life science industry leader with combined annual revenues of approximately $1.4 billion, based on 2006 full year projections.
"The strategic combination of Millipore and Serologicals will enable us to leverage the complementary capabilities and resources of both companies," said Martin Madaus, Chairman & CEO of Millipore.
"We are gaining high-value, differentiated products in important growth segments such as drug discovery products and services, nucleic function, stem cell research, and cell culture supplements."
"Our combined global field organization of approximately 1,200 professionals, which includes some of the most technically advanced experts in the industry, will have the ability to sell a broad portfolio of innovative products and further expand our presence in emerging international markets."
"We now have a well-balanced growth profile between our Bioscience and Bioprocess Divisions, which will allow us to effectively execute our long-term strategy."
Strategic Rationale for Serologicals Acquisition
- Expands Bioscience product portfolio into fast growing markets
- Extends Bioprocess footprint into upstream biopharmaceutical manufacturing
- Accelerates revenue growth
- Increases profitability with addition of high-margin consumable products
- Establishes important critical mass
The combined organization of approximately 5,800 employees will also have significantly expanded R&D capabilities with more than 500 R&D professionals worldwide.
With the addition of Serologicals' R&D capabilities, Millipore will be able to pursue new markets, accelerate investment in new products, and bring together the applications expertise of both companies to generate value for customers.