Thermo Fisher Scientific to acquire Biolab

Thermo Fisher Scientific (TFS) has unveiled plans to acquire a new analytical instruments firm.

According to a statement from the firm this week, it has entered into an agreement that will see it obtain control of Biolab – a company which serves researchers in the Australia and New Zealand sector.

Dealing in a range of analytical instruments, laboratory equipment and other consumables, Biolab is expected to become a part of TFS by the end of the month, in a deal worth around $120 million (£82 million).

Marijn E Dekkers, president and chief executive officer of the latter corporation, said the acquisition would strengthen the presence of the firm in a number of areas.

"As the premier commercial channel in Australia, New Zealand and the South Pacific, Biolab offers a broad portfolio of products and services to support Thermo Fisher’s continued growth in the region," he added.

Last week, TFS issued its first quarter results and updated guidance for 2009.