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Thermo Fisher to Acquire Affymetrix, Strengthens Biosciences Leadership

By LabMedica International staff writers
Posted on 12 Jan 2016
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Thermo Fisher Scientific, Inc. (Waltham, MA, USA) and Affymetrix, Inc. (Santa Clara, CA, USA) have announced that their boards of directors have unanimously approved Thermo Fisher’s acquisition of Affymetrix for USD 14.00 per share in cash, representing purchase price of approximately USD 1.3 billion. Affymetrix is to be integrated into Thermo Fisher’s Life Sciences Solutions segment.

Affymetrix’s technologies enable parallel and multiplex analysis of biological systems at the cellular, protein, and genetic levels, facilitating transition of research tools into clinical and other applied markets. Its products are used in life sciences and translational research, molecular diagnostics, reproductive health, and agricultural biotechnology.

The transaction will expand Thermo Fisher’s portfolio and genetic analysis capabilities. Affymetrix specializes in a range of antibodies, multiplex RNA, and protein and single-cell assays. These technologies serve the fast-growing flow cytometry market segment as well as new high-growth applications including single-cell biology, immunotherapy, and infectious disease research. Affymetrix will add complementary products in genetic analysis that are used in cytogenetics, genotyping, and gene expression. Its innovative microarray platform will strengthen Thermo Fisher’s presence in certain markets.

Affymetrix will benefit from Thermo Fisher’s access to biopharma through its unique customer value proposition as well as its world-class e-commerce capabilities and extensive customer channels. Thermo Fisher will also extend the geographic reach of Affymetrix products by leveraging its presence and infrastructure in Asia-Pacific, particularly China.

The transaction, expected to be completed by end of second quarter of 2016, is subject to the approval of Affymetrix shareholders and the satisfaction of customary closing conditions. In connection with the proposed merger, Affymetrix will file a proxy statement with the [US] Securities and Exchange Commission (SEC), with important information to be read by stockholders.

Frank Witney, president and CEO, Affymetrix, said, “Joining Thermo Fisher creates significant value for our customers, employees, and shareholders. We will be able to build on our strong history of close collaboration with customers in our target markets by leveraging Thermo Fisher’s deep relationships, particularly in biopharma, as well as their global scale and leading presence in Asia-Pacific. We are excited about the opportunity to combine our portfolios and strengthen our position in high-growth markets such as single-cell biology, reproductive health, and AgBio. Our employees will benefit by being part of an industry-leading company, which brings many opportunities for career growth and development. We look forward to working closely with the Thermo Fisher team to ensure a smooth transition and integration.”

“The acquisition of Affymetrix will strengthen our leadership in biosciences and create new market opportunities for us in genetic analysis,” said Marc N. Casper, president and CEO, Thermo Fisher Scientific, “In biosciences, the company’s antibody portfolio will significantly expand our offering in the fast-growing flow cytometry market, and customers will have greater access to these products through our global scale and commercial reach. In genetic analysis, Affymetrix’s technologies are highly complementary and present new opportunities for us in targeted clinical and applied markets. For shareholders, we expect the transaction to create value by generating attractive financial returns, including immediate accretion to our adjusted EPS [Earnings per Share].”

Related Links:

Thermo Fisher Scientific
Affymetrix


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