Life Technologies Buys Korean Firm
According to KDR’s website, 38% of its customers are in the academic sector and 17% are hospitals. In announcing the purchase, Life highlighted the opportunities in Korea as a result of the country’s Bio-vision 2016 initiatives. Asia Pacific has been a focus of Life Technologies’ investments, which included the purchase of a Chinese distributor last year (see IBO 8/15/12).
Carlsbad, CA 4/12/13—Life Technologies has acquired KDR Biotech, a South Korean reagent distributor and Life’s primary Korean distributor since 1982. Financial details were not disclosed. “The acquisition of KDR Biotech is in line with Life’s Asia-Pacific Japan strategy to further develop customer relationships, improve the customer experience and increase revenue in the fast growing South Korean biotechnology market, in addition to Life’s overall strategy of expanding our footprint into strong growth and emerging markets,” stated Mark Smedley, president of Life Technologies, Asia-Pacific Japan region. All of KDR’s employees will join Life. KDR will continue to offer other company’s products in addition to Life’s.
