Neogen Acquires Testing Company
GeneSeek’s offerings include DNA genotyping based on Illumina and Sequenom platforms for analysis of trait and identity. GeneSeek will join Neogen’s Animal Safety Division. For the nine-month period ended February 28, sales for the Animal Safety division increased 6.7% to $45.8 million.
Lansing, Michigan 4/1/10—Neogen, a provider of food and animal safety testing products, has acquired all of the outstanding shares of GeneSeek, an agricultural genetics laboratories, for $13.8 million in cash and contingent payments based on future performance. Based in Lincoln, Nebraska, with 36 employees, GeneSeek generated 2009 revenues of $12.5 million. Neogen CEO and Chairman James Herbert stated that the acquisition adds significantly to Neogen’s genomic capabilities. All of GeneSeek’s employees are expected to stay with the company.