Transaction will create life science company with approximately $1.4 billion in revenues; combined company will have higher revenue growth and profitability profile
Millipore and Serologicals announce that their boards of directors have approved a definitive agreement whereby Millipore will acquire Serologicals in an all cash transaction.
The acquisition will transform Millipore into a company with combined annual revenues of approximately $1.4 billion, based on 2006 full year projections.
Assuming stable foreign exchange rates, Millipore believes 2007 revenues for the combined company will grow between 9 and 11percent over 2006 pro forma revenues.
The strategic combination of Millipore and Serologicals will significantly strengthen Millipore's Bioscience Division by giving it leading positions in a broad range of high growth segments such as drug discovery products and services, antibodies, cell biology reagents, and stem cell research.
Millipore expects to increase sales of Serologicals' products in international markets such as Europe, Asia and Japan, where Millipore has a significant presence.
Millipore's Bioprocess Division will gain a cell culture supplements offering that will facilitate its entry into the $1 billion upstream bioprocessing market.
As a result, Millipore will be the only company in the life science industry that can offer both upstream cell culture and downstream separation offerings for biopharmaceutical production, further strengthening its relationships with biotechnology and pharmaceutical customers.
The combined organization of approximately 5,800 employees will have significantly expanded R+D capabilities and a worldwide sales, sales support, and service organization of approximately 1200 professionals selling a broad portfolio of complementary products.
