Sartorius Stedim Biotech acquires Wave Biotech AG
Acquisition follows successful phase of cooperation
Sartorius Stedim Biotech GmbH (SSB), a group subsidiary of the biotechnology supplier Sartorius Stedim Biotech, signed an agreement to acquire the Swiss-based technology company Wave Biotech AG. Both companies have already been closely working together since 2006. In addition to their joint research projects, Sartorius Stedim Biotech has been exclusively marketing Wave's entire product range that covers various types of single-use bioreactors and further equipment for biopharmaceutical research and manufacture. During the current financial year, SSB’s sales revenue with Wave products is expected to amount to approximately 10 million euros. The acquisition, which is subject to clearance by the antitrust authorities, is expected to be completed in December 2008. Financial terms were not disclosed.
“We are acquiring a company with a very strong track record in innovation and with competencies in fermentation that are outstandingly complementary with our own breadth of expertise in this area. In making this move, we are reinforcing our position in the fast-growing segment of single-use systems for cell cultivation over the long run,” said Dr. Joachim Kreuzburg, CEO of Sartorius Stedim Biotech, about the acquisition.
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