Working to expand customer relationships in the Asia-Pacific region and increase revenue in South Korea
Life science and medical research instrument maker Life Technologies Corporation has acquired KDR Biotech Company, a reagents distributor based in Seoul, Korea, for an undisclosed amount. KDR Biotech has distributed its reagents in Korea since 1982.
Life Technologies said it is working to expand its customer relationships in the Asia-Pacific region and increase revenue in South Korea, where the biotechnology market is growing rapidly. KDR Biotech serves the different needs of South Korean life science customers. Its 30-year market know-how will assist Life Technologies to reach out to an even larger customer base in Korea.
The company has grown only through acquisitions. A year after its formation in November 2009, Life Technologies acquired BioTrove, the maker of a high-throughput gene expression and genotyping analysis system called OpenArray. In January the following year, Life Technologies purchased AcroMetrix, and in August 2010 it bought Ion Torrent for $375m in cash and shares.
In July 2012 Life Technologies acquired genetics-based products and services provider Navigenics for an undisclosed sum. Later the same month, it bought Pinpoint Genomics and its early-stage non-small-cell lung cancer test. In January this year, Life Technologies acquired Netherlands-based BAC, which is involved in the discovery, development and manufacture of protein purification products.