Two California firms that produce tools vital to the biotechnology industry will merge by the autumn.
Invitrogen of Carlsbad is acquiring Applera's Applied Biosystems Group of Foster City for US$6.7 billion in cash and stock. If approved by shareholders, the combined operations will be called Applied Biosystems, with corporate headquarters in Carlsbad.
Applied Biosystems, with annual revenue of $2.1 billion, is widely known for producing the genetic-sequencing tools used in the Human Genome Project. Invitrogen, with $1.3 billion in annual revenue, is a major supplier of reagents, cells and test kits.
Invitrogen's Gregory Lucier will be chairman of the board and chief executive of the new firm, with Applied Biosystems' Mark Stevenson as president and chief operating officer.
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Lab-equipment giants set to merge. Nature 453, 969 (2008). https://doi.org/10.1038/453969f
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DOI: https://doi.org/10.1038/453969f