Thermo Fisher Scientific, Inc. (TMO) recently completed the acquisition of Finnzymes. Financial terms of the agreement have not been disclosed. The acquisition is not expected to have any material impact on the company’s financial results in fiscal 2010.
Finnzymes is a Finland-based provider of integrated tools for molecular biology analysis, including reagents, instruments, consumables and kits. The company generated revenues of $20 million in fiscal 2009.
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 like genetic testing, basic genomic research, forensics and food testing.
Thermo Fisher will 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. was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. in Nov 2006. Thermo Fisher Scientific serves its customers through two principal brands, Thermo Scientific and Fisher Scientific.
Thermo Fisher offers a wide range of products and an unmatched breadth of technologies to its customers. This differentiates the company from its peers and gives it a competitive edge. Presently, we have a ‘Neutral’ recommendation on Thermo Fisher.
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