Wednesday, September 2, 2009
Life Technologies Sells JV For $450M
Carlsbad-based Life Technologies, a developer of biotechnology tools, announced this morning that it has entered into a definitive agreement to sell its ownership stake in its mass spectrometry joint venture, to Danaher for $450M. Danaher is buying Life Technologies' partner in the joint venture, MDS Analytics Technologies. Life Technologies said the sale will enable the firm to "focus on our core competencies." The sale is expected to close in the fourth quarter of 2009.