Cambridge, UK 9/27/18—Battery Ventures has purchased TTP Labtech from TTP Inc. Financial details were not disclosed. TTP designs and develops automated instruments and consumables, including sample handing and management systems, for use in life science research. “This underpins our ambitious growth plans and enables us to further strengthen our position in the life science market and expand into new application areas,” said TTP Labtech Managing Director David Newble. “TTP Labtech now has a partner to support their growth vision and extend their industry reach through investment in R&D and acquisitions,” commented TTP Group Chairman Peter Taylor. Future investments will include expansion of the company’s headquarters and manufacturing facilities.

TTP Labtech has 149 employees, including its US and India staff, according to a TTP Labtech spokesperson. Asked about complementary acquisitions as part of the company’s growth strategy, she told IBO, “TTP Labtech will continue to focus on growing our business in the pharmaceutical, biotechnology and academic-research markets. We will be expanding our portfolio of products, which minimize assay volumes, improve workflows and minimize costs within drug discovery, structural biology, molecular biology and genomics applications.”

TTP Labtech generated revenues of £18.7 million ($30.2 million) for the year ending March 31, 2015, the most recent financial information that is available. Its product lines include liquid handling systems, cytometers, and automated sample storage and management systems.