Bio-Rad to Buy Germany's AbD Serotec for $70 Million


On Monday, Bio-Rad Laboratories announced a definitive agreement to buy the AbD Serotec division of Germany's MorphoSys AG for $69.8 million cash. The transaction is slated to close in January.

In a statement, Bio-Rad's Life Science Group President Brad Crutchfield observed that Serotec brings with it "access to a comprehensive catalog of antibodies allowing us to better serve our customers by offering total assay solutions that can be validated on our research platforms for western blotting, multiplex protein expression, ELISA, and cell sorting. In addition, we will be able to exploit a powerful in vitro technology to accelerate future antibody generation."

According to S&P Capital IQ, Serotec is profitable, earning $1.2 million in 2011 on $25.1 million in revenues.

Bio-Rad shares declined 0.3% to close the day at $103.98.

The article Bio-Rad to Buy Germany's AbD Serotec for $70 Million originally appeared on

Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.