Thermo Fisher to acquire Affymetrix

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  • Published: Jan 11, 2016
  • Author: Jon Evans
  • Source: Thermo Fisher Scientific/Affymetrix
  • Suppliers: Thermo Fisher Scientific
  • Channels: HPLC / Laboratory Informatics / Detectors / Electrophoresis / Gas Chromatography / Sample Preparation / Ion Chromatography / Proteomics & Genomics / Base Peak / Infrared Spectroscopy / UV/Vis Spectroscopy / Atomic / Chemometrics & Informatics / Raman / X-ray Spectrometry / MRI Spectroscopy / Proteomics / NMR Knowledge Base
thumbnail image: Thermo Fisher to acquire Affymetrix

Thermo Fisher Scientific has announced that it is to acquire Affymetrix, a leading provider of cellular and genetic analysis products, for approximately $1.3 billion.

Affymetrix’s technologies allow parallel and multiplex analysis of biological systems at the cellular, protein and genetic level, facilitating the transition of research tools into clinical and applied markets. The company’s products are used by customers working in life sciences and translational research, molecular diagnostics, reproductive health and agricultural biotechnology. Based in Santa Clara, California, Affymetrix has approximately 1100 employees worldwide and maintains sales and distribution operations primarily in the US, Europe and Asia. The business, which has annual revenues of approximately $350 million, will be integrated into Thermo Fisher’s Life Sciences Solutions Segment.

“The acquisition of Affymetrix will strengthen our leadership in biosciences and create new market opportunities for us in genetic analysis,” said Marc Casper, president and chief executive officer of Thermo Fisher Scientific. “In biosciences, the company’s antibody portfolio will significantly expand our offering in the fast-growing flow cytometry market, and customers will have greater access to these products through our global scale and commercial reach. In genetic analysis, Affymetrix’s technologies are highly complementary and present new opportunities for us in targeted clinical and applied markets.”

“Joining Thermo Fisher creates significant value for our customers, employees and shareholders,” said Frank Witney, president and chief executive officer of Affymetrix. “We will be able to build on our strong history of close collaboration with customers in our target markets by leveraging Thermo Fisher’s deep relationships, particularly in biopharma, as well as their global scale and leading presence in Asia-Pacific. We are excited about the opportunity to combine our portfolios and strengthen our position in high-growth markets such as single-cell biology, reproductive health and AgBio. Our employees will benefit by being part of an industry-leading company, which brings many opportunities for career growth and development. We look forward to working closely with the Thermo Fisher team to ensure a smooth transition and integration.”

Casper concluded: “We’re pleased to welcome our new colleagues from Affymetrix to Thermo Fisher. Frank Witney and the entire Affymetrix team have done a great job of strengthening the business, and we’re excited about the opportunity to leverage Thermo Fisher’s scale and depth of capabilities to build on that momentum and accelerate growth.”

Thermo Fisher expects the transaction to be completed by the end of the second quarter of 2016 and to realize total synergies of approximately $70 million by year three following completion. These synergies will comprise $55 million of cost synergies and $15 million of revenue-related synergies.

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