Applied Biosystems Group, an Applera Corporation business, and Ambion, Inc. have signed a definitive agreement whereby Applied Biosystems will acquire the research products division of Ambion, a premium supplier of RNA-based reagents for life science research and drug development, for approximately $273 million in cash.
According to a company release, the transaction is subject to regulatory and other customary closing conditions and is expected to close in the first calendar quarter of 2006.
"This acquisition is an important component of Applied Biosystems' strategy to drive growth by expanding our consumables product offering. We are extremely pleased to announce this agreement and look forward to welcoming Ambion's employees to Applied Biosystems. We expect Ambion to become a centre of excellence within our consumables business," said Catherine M. Burzik, president of Applied Biosystems.
Ambion's sample prep, RNAi, micro RNA, and gene expression and array products provide Applied Biosystems entry into an estimated $500 million market that is currently growing faster than 10 per cent annually. Ambion's calendar 2005 revenues are estimated to exceed $52 million, 22 per cent above the prior year.
Applied Biosystems Group develops and markets instrument-based systems, consumables, software, and services.