APN News

  • Tuesday, September, 2020| Today's Market | Current Time: 01:15:01
  • New Delhi:Life Technologies, a global biotechnology company based in Carlsbad, Calif., today announced a definitive agreement to acquire certain assets of Labindia, a long-time distributor of its products. The transaction is expected to allow the company to offer a more complete and complementary line of products directly to its customers.

    Life Technologies provides customers with thousands of cutting-edge instruments and reagents used in biological research, primarily under the Applied Biosystems and Invitrogen brand names. Since 1994, Labindia has been a distributor of the company’s Applied Biosystems products, including the SOLiD™ Sequencing System and Ambion® RNA reagents. This transaction creates a full-service business, allowing the company to provide its Applied Biosystems products directly to customers along with its Invitrogen portfolio, which includes GIBCO® cell culture products, Lipofectamine™ transfection reagents, and a variety of benchtop instruments.

    As a result of the acquisition, nearly 100 professionals from Labindia will join Life Technologies, creating a 200-person strong organization with operations throughout India. Under the new organization, customers will have better access to a robust line of products that provide end-to-end solutions in areas such as research, diagnostics and forensics, as well as greater sales, customer and technical service support.

    “India has experienced strong double-digit growth in the biotechnology sector, making this one of the fastest growing regions in Asia Pacific,” said Mark Smedley, head of the Asia Pacific region for Life Technologies. “Our primary goal in acquiring Labindia is to meet that increased demand from our customers, and, by developing a more direct connection with them, better serve their needs with superior products, service and customer support. Labindia has been a strong partner and a great steward of the Applied Biosystems brand for the last 20 years, and can be credited for helping us build a thriving presence in India.”

    The acquisition is expected to close during the fourth quarter of 2010. Financial terms were not disclosed. Life Technologies does not expect this transaction to have a material impact to its financials in fiscal year 2010.