Thermo Fisher to Acquire Finnzymes - Analyst Blog
Thermo Fisher Scientific Inc. (TMO) has recently signed an agreement to acquire Finnzymes, a provider of integrated tools for molecular biology analysis, including reagents, instruments, consumables and kits. Financial terms of the agreement have not been disclosed. Thermo Fisher expects to complete the acquisition in the first quarter of fiscal 2010. The acquisition is not expected to have any material impact on the company’s financial results in fiscal 2010.
The Finnzymes acquisition will expand Thermo Fisher’s portfolio of reagents and other consumables for the molecular biology research and diagnostics markets. Finnzymes has expertise in DNA polymerases, which have demonstrated significant increases in the performance of enzymes. This benefits a variety of applications in different fields such as genetic testing, basic genomic research, forensics and food testing. Finnzymes is a Finland-based organization that generated revenues of $20 million in fiscal 2009.
Thermo Fisher expects to add Finnzymes primarily to its Analytical Technologies Segment, with a few of its equipment and consumables product lines into the company’s Laboratory Products and Services Segment.
Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. is a scientific instrument maker and a world leader in serving science. The company was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. in November 2006. Thermo Fisher Scientific serves its customers through two principal brands, Thermo Scientific and Fisher Scientific.
Presently, we have a “Neutral" recommendation on Thermo Fisher.
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