Invitrogen buys Applera

Invitrogen has announced it is set to merge with the Applera Corporation.

The life science firm has agreed to buy all the outstanding shares of the company’s Applied Biosystems Group in a cash and stock purchase valued at $6.7 billion (£3.5 billion).

Gregory Lucier, Invitrogen’s chairman and chief executive who will remain in his role after the merger, said: "This transaction combines the industry’s premier consumables provider with the industry’s premier systems provider to create a world-class biotechnology tools company."

"It provides significant value creating opportunities for customers, shareholders and employees alike," he added.

Under the terms of the agreement, Applera’s shareholders will receive $38 for every share they hold in the firm.

It was revealed last week that Invitrogen won six gongs at the recent Life Science Industry Awards.

The organisation has received clearance from the US Food and Drug Administration for its new antibody analysis system.