Takara Bio to Acquire Clontech Unit of BD Biosciences
Takara Bio Inc. announced that it has entered into a definitive agreement to acquire the Clontech unit ("Clontech") of BD Biosciences, mainly consisting of Clontech Laboratories Inc. (employees: 190), for USD $60 million (adjusted from USD $65 million due to the retention of certain inventories and receivables by the seller), from BD. The acquisition, which is subject to regulatory approvals, is expected to close by August 2005 and will be made through a wholly-owned subsidiary of Takara Bio to be established in the US.
Clontech Laboratories Inc. (Palo Alto, CA), founded in 1984, was acquired by BD in 1999. Clontech develops, manufactures and markets innovative biological products to the life science market worldwide and has established a strong position especially in the molecular biology research area. Clontech's products are widely used in the area of gene identification, gene expression, and gene functional analysis. For fiscal year 2004, Clontech reported total revenues of around USD $60 million worldwide.
Since starting to manufacture and supply restriction enzymes in 1979, Takara Bio has positioned itself as a leading company in the Japanese life science market and first introduced PCR related products in Japan. The company's revenues in the research reagent business worldwide were ¥11.8 billion JPY for fiscal 2004.
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