Source BioScience buys Berlin company
Nottingham-based Source BioScience has acquired genomics and cloning materials company ImaGenes, headquartered in Berlin, for a £2m cash fee. The company, which supplies products to the healthcare, pharma biotech and life science research sectors, said the acquisition “fits squarely” with the company’s intention to expand.
Source BioScience said the deal will create one of Europe's “strongest and most comprehensive businesses” for molecular products and services.
It said that the geographic expansion into Germany will help the company gain access to the wider European markets.
Dr Nick Ash, chief executive officer of Source BioScience, said: "This transaction fits squarely with our stated objective of continued expansion through both targeted acquisitions and development of the existing business. The acquisition of ImaGenes provides a platform for increased penetration of the European life science research and healthcare markets, acting as a catalyst for accelerated growth.
"The ImaGenes team will bring significant depth of experience and knowledge to the group and we will be able to leverage their existing links with academic centres and research institutions across Europe."
