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Thermo Fisher Scientific outlines new business segments with acquisition of Life Technologies.
Thermo Fisher Scientific announced on Feb. 3 that it has completed its acquisition of Life Technologies Corporation for $76.13 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of $1.5 billion in net debt. The completion of the transaction follows the receipt of all required regulatory approvals.
With the acquisition of Life Technologies, Thermo Fisher has established a new reporting segment, called Life Sciences Solutions. Mark Stevenson, who served as chief operating officer of Life Technologies, has been named an executive vice president and president of Life Sciences Solutions.
The company reports that effective Jan. 1, 2014, the company’s financial performance will be reported in four segments reflecting the following changes:
In addition, Thermo Fisher has agreed to sell its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare for $1.06 billion.
In connection with the completion of the transaction, Life Technologies stock ceased trading on The NASDAQ Stock Market following market close on Feb. 3.
Source: Thermo Fisher Scientific