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Danaher to acquire IDT
Posted on Friday, 09 March 2018 14:44
US Fortune 500 science and technology business Danaher is acquiring Integrated DNA Technologies (IDT), a private high-value consumable for genomics in molecular biology.
Financial terms of the deal, which remains subject to regulatory approval and is slated to close in mid-2018, were not disclosed.
IDT’s products, which are primarily DNA and RNA oligonucleotides, serve customers in the academic and biopharmaceutical research, biotechnology, agriculture and clinical diagnostics markets.
Its consumables are found in next generation sequencing, synthetic biology, gene editing and molecular diagnostics.
The group was established in 1987 and has grown to become a leader in its market with over 1,200 employees and more than 100,000 customers worldwide that produce over 65,000 nucleic acids daily.
Following completion, IDT is expected to operate as a standalone business within Danaher’s life sciences unit.
Rainer Blair, vice president of the division, said: “IDT expands our presence into the highly attractive genomics market and will help play a central role in accelerating our customers' research and time to market as they develop critical diagnostic tests and potential life-saving therapies.
“IDT's historical double-digit core revenue growth and strong margins are a testament to the team's commitment to the highest standards of quality, service, and technical expertise.”
The target has two manufacturing facilities in the US, one in Singapore and one in Belgium.
Danaher is a New York-listed conglomerate with operations in the fields of design, manufacturing, and marketing of industrial, healthcare and consumer products.
The announcement to acquire IDT follows a statement by the group suggesting its first quarter 2018 adjusted diluted net earnings per share are expected to be above the high-end of the company’s previous guidance range.
In the year ended 31st December 2017, Danaher posted sales of USD 18.33 billion, an 8.6 per cent increase on USD 16.88 billion in the previous 12 months.
Net income totalled USD 2.49 billion in 2017, down 2.4 per cent from USD 2.55 billion in 2016.
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