GE agreed to pay $1.06 billion to acquire Thermo Fisher’s HyClone cell culture media and sera as well as the gene modulation and magnetic beads businesses, moves that allow Thermo Fisher to make progress toward a rather a mega-acquisition of its own.
GE’s new acquisitions will be absorbed into its lifesciences division, expanding development in its "end-to-end" cell biology research, the company said. The trio of businesses accounted for some $250 million in combined revenue in 2013, according to a Thermo Fisher estimate.
The deal, still subject to regulatory approvals, is slated to close early this year.
The swap also serves to ease European regulatory concerns as Thermo Fishers works toward approval of a $13.6 billion acquisition of Life Technologies (NSDQ:LIFE), announced last April. The merger could more than double Thermo Fisher’s annual sales.
The triple-sale should finally appease U.S. regulators, Thermo Fisher said. The company doesn’t expect to make any further concessions to win U.S. approval for the Life Technologies acquisition.