Biotech tools company Invitrogen has appointed a team charged with integrating the company's operations with those of Applied Biosystems (AB), another biotech tools company, which Invitrogen linkurl:acquired last week;http://www.the-scientist.com/blog/display/54747/ in a deal valued at a whopping $6.7 billion. The announcement, made today (June 20) in a linkurl:press release,;http://phx.corporate-ir.net/phoenix.zhtml?c=61498&p=irol-newsArticle&ID=1168183&highlight= marks the first step in the merger between the two companies, which is set to be completed this autumn. The company expects the move to yield a $60 million boost in combined profits by 2009, and $125 million by 2010. "The leadership teams of both companies have carefully considered the challenges and opportunities associated with bringing these two great companies together, and have launched a highly structured program to drive a seamless and efficient integration," Gregory T. Lucier, Chairman and Chief Executive Officer of Invitrogen said in the release. Michael Hunkapiller, who spent 21 years at AB and left the company position...
Interested in reading more?
Become a Member of
Receive full access to more than 35 years of archives, as well as TS Digest, digital editions of The Scientist, feature stories, and much more!