Thermo Fisher Scientific Inc. (NYSE:TMO) agreed to spend $260 million in cash on Canadian lab supplies provider Fermentas International Inc.
Burlington, Ont.-based Fermentas, which runs its principal operation out of Vilnius, Lithuania, makes enzymes, reagents and molecular weight markers. The company, which employs about 500 workers, posted sales of about $55 million last year.
Thermo Fisher said the deal will expand its polymerase chain reaction portfolio for its molecular and cell biologist customers. The Waltham, Mass.-based lab instruments giant plans to integrate Fermentas into its analytical technologies segment once the deal is consummated, likely during the third quarter.
TMO has been tearing it up on the acquisitions trail lately, beefing up its PCR offering with Finnish polymerase chain reaction equipment maker Finnzyme in February and adding to its proteomic portfolio with Odense, Denmark-based Proxeon in April.
But it’s the one that got away that looms largest. In February Thermo Fisher reportedly lost out in a bidding war over Millipore Corp. (NYSE:MIL). Merck KGaA (NYSE:MRK), a German chemical and pharmaceuticals manufacturer, won that tussle with a $7.2 billion, $107-a-share offer, including acquired debt.