Affymetrix Diversifies with Reagent Company Purchase
Affymetrix has chosen to broaden its product offerings with life science reagents, gaining access to a wider range of customers as well as stable user demand. USB was formed in 1998 through a management buyout of the biochemical, molecular biology enzyme and manual DNA sequencing reagent product lines of Amersham Pharmacia Biotech. GE HealthCare currently distributes USB products worldwide. USB CEO Mike Lachman is expected to remain with the company, which has approximately 100 employees.
Santa Clara CA 12/18/07—Affymetrix has agreed to acquire USB, a manufacturer of molecular biology and biochemical reagents, for approximately $75 million in cash. Based in Cleveland, Ohio, USB offers three major product lines: molecular biology enzymes and kits, biochemical reagents and products for membrane protein research. “The integration of USB’s biochemical reagents with Affymetrix’s current and future products will greatly accelerate our ability to develop and commercialize more complete customer solutions,” stated Affymetrix President Kevin King. “USB is a recognized leader in the life sciences industry with strong brand equity and established manufacturing capabilities.” The transaction is expected to close in the first quarter of 2008 and be accretive to 2008 earnings before acquisition charges.

