Thermo Fisher Scientific buys Affymetrix for $1.3bn

31 March 2016 (Last Updated March 31st, 2016 18:30)

Thermo Fisher Scientific has completed the acquisition of US-based cellular and genetic analysis products provider Affymetrix, for around $1.3bn.

Thermo Fisher Scientific has completed the acquisition of US-based cellular and genetic analysis products provider Affymetrix, for around $1.3bn.

As part of the deal, Thermo Fisher has paid $14.00 per share to the stakeholders of Affymetrix.

Earlier this month, Origin Technologies made an offer of around $1.5bn to buy Affymetrix, topping a $1.3bn bid from Thermo Fisher Scientific made this January.

“This transaction creates significant value for our stockholders and will provide important benefits to our customers and employees.”

Thermo Fisher Scientific president and CEO Marc Casper said: "With Affymetrix, we now have an expanded antibody portfolio to strengthen our leadership in biosciences, as well as new genetic analysis capabilities to better serve clinical and applied markets.

"Our combined capabilities will benefit our customers, employees and shareholders, and we are excited to move forward as one organisation positioned for growth."

Based in Santa Clara, California, Affymetrix provides products to the customers in various sectors, including life sciences and translational research, molecular diagnostics, reproductive health and agricultural biotechnology.

Affymetrix president and CEO Frank Witney said: "This transaction creates significant value for our stockholders and will provide important benefits to our customers and employees."

Affymetrix also offers a range of antibodies, multiplex RNA, and protein and single-cell assays that serve cytometry market segment, as well as single-cell biology, immunotherapy and infectious disease research.

The company operates manufacturing facilities in Cleveland, San Diego, US, as well as Vienna, Austria and Singapore.