Thermo Fisher Scientific to acquire Finnish company Finnzymes

Finnzymes’ innovative enzyme portfolio and unique polymerase chain reaction platform attracts acquisition by global leader.

Thermo Fisher Scientific Inc., a world leader in providing equipment and services for science and healthcare, has signed a definitive agreement to acquire the Finnish company Finnzymes, a well-recognized provider of integrated tools for molecular biology analysis, including reagents, instruments, consumables and kits.

“The addition of Finnzymes’ innovative enzyme portfolio and unique PCR instrument platform strengthens our broad range of life science reagents and consumables, as well as our specialty diagnostics product offering,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “This combination brings together key complementary technologies for molecular biology and diagnostics, allowing us to create significant value for our customers.”

Finnzymes will be integrated primarily into Thermo Fisher Scientific's Analytical Technologies Segment, with some equipment and consumables product lines being added to the Laboratory Products and Services Segment. The transaction is expected to close during the first quarter of 2010. Thermo Fisher Scientific already has operations in the cities of Vantaa and Joensuu in Finland.

Headquartered in Espoo, Finland, Finnzymes has 90 employees and generated revenue of USD20 million in 2009. Thermo Fisher Scientific had revenues of USD10.5 billion in 2008 and has about 35,000 employees. Its customers include pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings.