Bio-Rad Signs Definitive Agreement to Acquire AbD Serotec
Hercules, CA — December 16, 2012 — Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a multinational manufacturer and distributor of life science research and clinical diagnostic products, today announced that it has signed a definitive agreement to acquire AbD Serotec, a division of MorphoSys AG, for 53 million euros in cash. The transaction is subject to certain closing conditions and is expected to be completed in January.
"We are impressed with the quality of AbD Serotec's products as well as the company's reputation," said Brad Crutchfield, Bio-Rad President, Life Science Group. "With this acquisition, Bio Rad will have access to a comprehensive catalog of antibodies allowing us to better serve our customers by offering total assay solutions that can be validated on our research platforms for western blotting, multiplex protein expression, ELISA, and cell sorting. In addition, we will be able to exploit a powerful in vitro technology to accelerate future antibody generation."
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) has remained at the center of scientific discovery for more than 50 years, manufacturing and distributing a broad range of products for the life science research and clinical diagnostic markets. The company is renowned worldwide among hospitals, universities, major research institutions, as well as biotechnology and pharmaceutical companies for its commitment to quality and customer service. Founded in 1952, Bio-Rad is headquartered in Hercules, California, and serves more than 100,000 research and industry customers worldwide through its global network of operations. The company employs over 7,100 people globally and had revenues exceeding $2 billion in 2011. For more information, please visit www.bio-rad.com.
About AbD Serotec
AbD Serotec, a division of MorphoSys AG, is one of the world's leading antibody manufacturers offering over 15,000 antibodies, kits, and accessories. AbD Serotec has an ISO 9001 and ISO 13485 certified production facility in the United Kingdom, as well as other facilities in Germany and the USA.
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Bio-Rad Laboratories, Inc.