Thermo Fisher Scientific announces takeover of Affymetrix

Thermo Fisher Scientific has agreed a deal to acquire Affymetrix for approximately $1.3 billion (903.69 million pounds).

Affymetrix is a leading provider of cellular and genetic analysis products, offering technologies enabling parallel and multiplex analysis of biological systems at the cellular, protein and genetic level.

Used by customers working in life sciences and translational research, molecular diagnostics, reproductive health and agricultural biotechnology, these products aid the transition of research tools into clinical and applied markets.

The company has approximately 1,100 employees worldwide and maintains sales and distribution operations primarily in the US, Europe and Asia. Its annual revenues are currently around $350 million.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "The acquisition of Affymetrix will strengthen our leadership in biosciences and create new market opportunities for us in genetic analysis."

Following the completion of the deal, Affymetrix will be integrated into Thermo Fisher's life sciences solutions segment.