Thermo Electron purchases InnaPhase
Waltham, MA; Philadelphia, PA—Thermo Electron Corp. recently completed its acquisition of InnaPhase Corp. for approximately $65 million in cash, subject to a post-closing adjustment.
Waltham, MA; Philadelphia, PA— Thermo Electron Corp. recently completed its acquisition of InnaPhase Corp. for approximately $65 million in cash, subject to a post-closing adjustment. InnaPhase’s more than 100 employees supply laboratory information management systems (LIMS) for pharmaceutical and biotechnology markets, 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 LIMS is reportedly the leading product in drug development laboratories, and is the industry standard for bioanalytical applications. InnaPhase's products will be integrated with Thermo's informatics products, which include SampleManager, the leading LIMS for large analytical laboratories.
'The InnaPhase team brings deep industry expertise and world-class software development capabilities,' says Marijn Dekkers, Ph.D., Thermo’s president and CEO. 'The addition of InnaPhase's pharmaceutical LIMS technology broadens and strengthens the solutions that Thermo is able to provide its customers in key applications, such as proteomics and ADME/TOX.”
Jo Webber, Ph.D, InnaPhase’s former CEO, adds that, 'Bringing together the proven, innovative products and the industry knowledge represented by people from both organizations, along with Thermo's best-in-class instrument, equipment and service capabilities, will allow us to provide a breadth of solutions for our customers that is unequaled in the industry.' She has been appointed GM of Thermo’s informatics business.
Control Engineering Daily News Desk
Jim Montague, news editor