Thermo Electron Acquires InnaPhase Corporation
Thermo Electron Corporation announced it has completed the acquisition of InnaPhase Corporation, a premier supplier of Laboratory Information Management Systems (LIMS) for the pharmaceutical and biotechnology markets, for approximately $65 million in cash, subject to a post-closing adjustment. Headquartered in Philadelphia, InnaPhase has over 100 employees and expects revenues of approximately $26 million in 2004. With this acquisition, Thermo extends its position as the largest provider of LIMS products and services in the world.
InnaPhase's flagship Watson(TM) LIMS is the leading product in drug development laboratories and the industry standard for bioanalytical applications. InnaPhase's products will be integrated with Thermo's informatics product line, which includes SampleManager(TM), the leading LIMS for large analytical laboratories.
"The InnaPhase team brings deep industry expertise and world-class software development capabilities," commented Marijn E. Dekkers, Ph.D., president and CEO of Thermo Electron Corporation. "The addition of InnaPhase's pharmaceutical LIMS technology broadens and strengthens the array of solutions that Thermo is able to provide its customers in key applications such as proteomics and ADME/TOX. As customers continue to standardize on informatics products and vendors, Thermo is strategically positioned to offer a broad portfolio of integrated solutions with the industry expertise and resources required for successful implementations."
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