Applied Biosystems Acquires RNA Reagent Supplier Ambion
Foster City, CA and Austin, TX —Applied Biosystems has signed a definitive agreement to acquire Ambion’s Research Products Division, a supplier of RNA-based reagents, for $273 million in cash. Ambion’s Research Products Division sells sample preparation, RNAi, micro RNA, and gene expression and array products. Ambion’s 2005 revenues are forecasted to increase 22% to more than $52 million. “We see significant revenue, operational, and scientific synergies in combining Ambion with Applied Biosystems. Ambion’s products should enable Applied Biosystems to offer customers more complete workflow solutions,” said William V. Murray, president of Applied Biosystems’ Molecular Biology Division.
“We believe Ambion’s strong brand recognition should help increase sales of both Applied Biosystems and Ambion consumable products via our global channels. Also important are Ambion’s RNA R&D expertise, consumables manufacturing capabilities, and culture of scientific innovation, all of which should complement our existing strengths.” The acquisition is expected to be slightly accretive to Applied Biosystems in fiscal 2007 and accretive in fiscal 2008 on a non-GAAP basis. Ambion will join Applied Biosystems’ Molecular Biology Division and its R&D, manufacturing and other operations will remain in Austin, Texas. The acquisition is expected to close in the first quarter of 2006.