BWI: Life Technologies to Expand Presence in India

Press release from Business Wire India
Source: Life Technologies
Tuesday, November 02, 2010 02:18 PM IST (08:48 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Retailers; Technology
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Life Technologies to Expand Presence in India
Provider of Cutting-Edge Tools for Biological Research to Acquire Distributor, Establish Closer Ties with Customers in India

New Delhi, Delhi, India, Tuesday, November 02, 2010 -- (Business Wire India) -- Life Technologies, a global biotechnology company based in Carlsbad, Calif., today announced a definitive agreement to acquire certain assets of Labindia, a long-time distributor of its products. The transaction is expected to allow the company to offer a more complete and complementary line of products directly to its customers.

Life Technologies provides customers with thousands of cutting-edge instruments and reagents used in biological research, primarily under the Applied Biosystems and Invitrogen brand names. Since 1994, Labindia has been a distributor of the company's Applied Biosystems products, including the SOLiDT Sequencing System and Ambion® RNA reagents. This transaction creates a full-service business, allowing the company to provide its Applied Biosystems products directly to customers along with its Invitrogen portfolio, which includes GIBCO® cell culture products, LipofectamineT transfection reagents, and a variety of benchtop instruments.

As a result of the acquisition, nearly 100 professionals from Labindia will join Life Technologies, creating a 200-person strong organization with operations throughout India. Under the new organization, customers will have better access to a robust line of products that provide end-to-end solutions in areas such as research, diagnostics and forensics, as well as greater sales, customer and technical service support.

"India has experienced strong double-digit growth in the biotechnology sector, making this one of the fastest growing regions in Asia Pacific," said Mark Smedley, head of the Asia Pacific region for Life Technologies. "Our primary goal in acquiring Labindia is to meet that increased demand from our customers, and, by developing a more direct connection with them, better serve their needs with superior products, service and customer support. Labindia has been a strong partner and a great steward of the Applied Biosystems brand for the last 20 years, and can be credited for helping us build a thriving presence in India."

The acquisition is expected to close during the fourth quarter of 2010. Financial terms were not disclosed. Life Technologies does not expect this transaction to have a material impact to its financials in fiscal year 2010.

About Life Technologies

Life Technologies, based in Carlsbad, Calif., is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of $3.3 billion in 2009, employs approximately 9,000 people, has a presence in approximately 160 countries, and possesses a rapidly growing intellectual property estate of approximately 3,900 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc., and manufactures both in-vitro diagnostic products and research use only-labeled products. For more information on how we are making a difference, please visit our website: www.lifetechnologies.com. Follow Life Technologies on Twitter @LIFECorporation and on Facebook.

Safe Harbor Statement

Statements contained in this press release, including statements with respect to future events and their timing, including the acquisition by Life Technologies of Labindia, the expected results of operations of Labindia or Life Technologies both before or following Life Technologies' acquisition of Labindia, as well as statements as to future earnings, growth, revenues, expenses, cash flow, credit profile, financing, corporate strategy and performance are "forward-looking statements" within the meaning of the federal securities laws. Although Life Technologies believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these expectations, assumptions and statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: capital market conditions; the market prices of equity securities; stock price performance; receipt of necessary government approvals; the profitability and liquidity of Life Technologies and Labindia; the commitments and liabilities of Life Technologies and Labindia; industry trends and Life Technologies' plans, objectives, expectations and strategy for its business. Any statements that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan," "intend," "anticipate," "target," "estimate," "expect" and the like, and/or future tense or conditional constructions ("will," "may," "could," "should," etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.

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Mark Smedley, Head of Asia Pacific, Life Technologies
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CONTACT DETAILS
Farnaz Khadem, Life Technologies, 1 760 693 7245, Farnaz.khadem@lifetech.com
Vivian Lv, Life Technologies, 86 10 64106608, vivian.lv@lifetech.com
Sakshi Arora, Positive Interactive, +91 9582555413, sakshi@positiveindia.biz

KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, HEALTHCARE, RETAIL, TECHNOLOGY

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