Washington, DC 3/9/18—Danaher, a global science and technology innovator, has signed an agreement to acquire Integrated DNA Technologies (IDT) for an undisclosed amount. IDT, which has 1,200 employees and more than 100,000 customers, manufactures custom DNA and RNA oligonucleotides for applications in molecular biology, qPCR, NGS, synthetic biology, gene editing and molecular diagnostics. IDT will join Danaher’s Life Sciences platform, and operate as a standalone company and brand. “IDT expands our presence into the highly attractive genomics market, and will help play a central role in accelerating our customers’ research and time to market as they develop critical diagnostic tests and potential life saving therapies,” stated Rainer Blair, executive vice president of Danaher’s Life Sciences platform. “IDT’s historical double-digit core revenue growth and strong margins are a testament to the team’s commitment to the highest standards of quality, service and technical expertise.” The purchase is expected to close in mid-2018.

The deal was valued at close to $2 billion with Danaher beating out other bidders, according to Buyouts on PE Hub. Among the applications for oligonucelotides are research (CRISPR, NGS, PCR, synthetic biology), diagnostics and therapeutics. Danaher looks positioned to benefit from all three end-markets with manufacturing capabilities and technical expertise new to the company. Also notable is that this is Danaher’s first purchase of a purely genomics-focused company, as it continues its efforts to expand its Life Sciences consumables offerings.

Agilent Technologies (see IBO 9/30/16) and LGC Genomics (see IBO 4/15/17) are among the other companies announcing recent investments in oligonucleotide manufacturing, citing the future demand for oligo therapeutics.