Danaher Corp. To Acquire Integrated DNA Technologies

IDT will operate as a standalone operating company and brand within Danaher's Life Sciences platform. Rainer Blair, executive vice president of ... 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FormerDanaher,StrykerExecNamedCEOatRespiratoryMotion PRNewswire03.09.18 DanaherCorporationandIntegratedDNATechnologies(IDT)announcedthatDanaherhasenteredintoadefinitiveagreementtoacquireIDT,aprivately-heldproviderofhigh-valueconsumablesforgenomicsapplicationsinmolecularbiology,qPCR,nextgenerationsequencing,syntheticbiology,geneeditingandmoleculardiagnostics.    IDT'sprimarybusinessisthemanufacturingofhigh-quality,customDNAandRNAoligonucleotidesservingcustomersintheacademicandbiopharmaceuticalresearch,biotechnology,agriculture,clinicaldiagnostics,andpharmaceuticaldevelopmentendmarkets.Foundedin1987by JosephWalder,M.D.,Ph.D.,IDThasgrowntobecomealeaderinitsservedmarketswithmorethan1,200employeesandover100,000customersworldwide.IDTwilloperateasastandaloneoperatingcompanyandbrandwithinDanaher'sLifeSciencesplatform.   RainerBlair,executivevicepresidentofDanaher'sLifeSciencesplatform,said,"WearethrilledtohaveIDTjoinDanaher'sLifeSciencesplatform.IDTexpandsourpresenceintothehighlyattractivegenomicsmarketandwillhelpplayacentralroleinacceleratingourcustomers'researchandtimetomarketastheydevelopcriticaldiagnostictestsandpotentiallife-savingtherapies.IDT'shistoricaldouble-digitcorerevenuegrowthandstrongmarginsareatestamenttotheteam'scommitmenttothehigheststandardsofquality,service,andtechnicalexpertise."   ThomasP.Joyce,Jr., Danaherpresident andCEO,stated,"Danaherisaprovenstewardoffounder-ledbusinesses,suchasHachandPhenomenex.WerecognizetheextraordinarycontributionsDr.WalderandIDThavemadetotheadvancementofgenomicsresearchandapplicationsoverthepast30years.WelookforwardtosupportingtheIDTteamandhelpingthemleveragethetoolsoftheDanaherBusinessSystem(DBS)tofurtherenhancetheirgrowthprofileandcontinuetocreatelong-termcustomervalue."   "Formorethan30years,IDT'sinnovativetoolsandsolutionsforgenomicsapplicationshavehelpedscientistsadvancetheirresearchandcontributetosolvingsomeoftheworld'smostvexingdiseasesandotherchallengesaddressedbythelifesciencescommunity,"said JosephWalder,CEOandChairmanofIDT."JoiningDanaherwillallowustoacceleratethehighpaceofinnovationandsuperiorserviceourcustomershavecometoexpectfromus,aswellashelpexpandourglobalreach.I'mexcitedtowatchIDTfurthergrowandinnovateinthisexpandingareaofgenomicswiththehelpofDBS."   Thetransaction,whichisexpectedtoclosemid-year2018,issubjecttocustomaryclosingconditionsandregulatoryapprovals. 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