With this acquisition, SPT Life Sciences extends its commercial reach into the Chinese life sciences research market
SPT Life Sciences (SPT) has announced the completion of its acquisition of LBD Life Sciences (LBD).
The company, backed by technology-focused investment firm Battery Ventures, had previously held a minority stake in LBD. This latest deal sees the purchase of all remaining shares.
LBD joins the family of companies including SPT Labtech and Quantifoil who will be placed to meet the rapidly evolving needs of the Chinese research community.
Patrick Bennett, Group CEO of SPT Labtech, said: "We are delighted to complete the deal and we are very excited to bring LBD into the group. This investment highlights SPT Life Sciences commitment to developing a global portfolio of companies with a range of specialisms that help life science professionals world-wide to achieve their research goals.
"For more than 10 years the team at LBD have supported the growing life science research community in China and we believe that this investment will ensure they are able to do so going forward."
Sean Xiao, Managing Director of LBD commented: "As part of SPT Life Sciences we will remain deeply committed to solving Asia’s life science customers' toughest research problems by leveraging our expertise, and enabling access to cutting edge instrumentation. We can see many advantages of being part of the group and look forward to the future."