Industry leader Thermo Fisher grows with new acquisition
Waltham-based Thermo Fisher Scientific—an NEC member–announced on Monday its formal acquisition of Life Technologies (LIFE). With its purchase of the California-based biotechnology manufacturer, Thermo Fisher will broadly expand its reach in the realm of advanced life science technologies.
The purchase of Life is Thermo’s largest deal since 2006. It will increase Thermo’s diverse work force, by nearly one third next year. In addition to its Waltham headquarters, Thermo Fisher already operates facilities in Franklin and Milford, and as a result of this purchase, is acquiring Life Technologies facilities in Bedford, Beverly, Framingham, and Worburn. The transaction is also expected to generate increased revenue, accelerate results for life sciences customers working in proteomics, genomics and cell biology, as well as establish Thermo as an “unrivaled leader in serving research, specialty diagnostics and applied markets”. With such benefits in mind, the purchase has garnered the support of both companies’ board of directors. Additionally, the transaction has been backed by investors who believe the application of Life’s DNA sequencing technology will specifically bolster Thermo’s already unique customer cliental and portfolio.
“We are extremely excited about this transaction because it creates the ultimate partner for our customers and significant value for our shareholders,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “The acquisition of Life Technologies enhances all three elements of our growth strategy: technological innovation, a unique customer value proposition and expansion in emerging markets.”
United as one, Thermo Fisher and Life Technologies would have more than an estimated $16 billion in annual revenue, 50,000 employees internationally, and the greatest research and development budget in the industry.
The New England Council congratulates Thermo Fisher on this exciting acquisition! To learn more, please click here .
Recently from the Blog
This fall, The New England Council will launch a new virtual event series called “Inside the Corner Office.”