Life Technologies, the Carlsbad, CA-based company that makes instruments and lab supplies for biologists, said today it has acquired a 74 percent ownership stake in Germany-based Geneart through a tender offer to the smaller company’s shareholders. Geneart is one of five small companies around the world that specialize in synthesizing custom-ordered genes for use in biomedical research. Life Technologies (NASDAQ: [[ticker:LIFE]]) bought 59 percent of the company on April 9 for 11.59 euros a share, and other shareholders tendered shares at 13.75 euros. Life Technologies said it plans to enhance Geneart’s distribution capability and commercial network in the U.S.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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