Invitrogen to Acquire Applied Biosystems

Invitrogen, the biotechnology consumables and services firm, will purchase Applera's Applied Biosystems Group—a supplier of instrument systems, software, and other products to biotech researchers—in a stock and cash transaction valued at $6.7 billion. The combined company, to be called Applied Biosystems, will have annual sales of some $3.5 billion. "This transaction combines the industry's premier consumables provider with the industry's premier systems provider to create a world-class biotechnology tools company," says Gregory T. Lucier, CEO of Invitrogen, who will be become CEO of the new company.