Date: 2016-03-16
Type of information: Company acquisition
Acquired company: Protein Technologies (USA - AZ)
Acquiring company: Gyros (Sweden)
Amount: undisclosed
Terms: * On March 16, 2016, Gyros, a pioneer in automated nanoliter-scale immunoassays, and Protein Technologies,., a leading provider of peptide synthesis instrumentation and reagents, announced the companies have entered into a definitive merger agreement, to form Gyros Protein Technologies AB. The merger is expected to be completed within the next 30 days and is subject to certain closing conditions. Gyros Protein Technologies will be led by Dan Calvo as CEO (currently CEO of Gyros AB) and Erik Wiberg as CFO (currently CFO of Protein Technologies). David Patteson, currently Chairman of Protein Technologies, will serve as Chairman. Dr. Nate Cosper, CEO of Protein Technologies will serve in a transition role to assist with the integration of the two companies. Current majority shareholders of both Gyros AB and Protein Technologies, which are the AP6 (Sixth Swedish National Pension Fund) and Ampersand Capital Partners respectively, become the major shareholders in Gyros Protein Technologies AB.
Details: Gyros Protein Technologies combines Gyros’ microfluidics, systems development and immunoassay expertise with Protein Technologies’ deep knowledge in developing and manufacturing instruments for peptide synthesis. The Company will provide customers an unrivaled range of sample prep, synthesis and bioanalytical tools for biotherapeutics discovery, development and bioprocessing. With an installed base of more than 1,000 instruments in biopharmaceutical and related markets, coupled with double digit revenue growth and EBITDA positive operations, the combined company is in a strong position to continue delivering innovative products to its customers. Both Gyros and Protein Technologies introduced new platforms in 2015. Gyros launched Gyrolab xPlore™, an automated, nanoliter-scale, single CD immunoassay system, while Protein Technologies introduced the Prelude® X which incorporates novel, efficient heating and UV monitoring technology for economical, rapid synthesis of even the most difficult peptides.
Related: Technology - Services
