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news.Affymetrix has entered into a definitive agreement to acquire USB, a privately held Cleveland, Ohio-based company that manufactures and markets molecular biology and biochemical reagent products.
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Under the terms of the agreement, Affymetrix will pay approximately $75 million in cash to acquire USB. The transaction is expected to close in the first quarter of 2008, subject to customary closing conditions and regulatory approvals.
The acquisition will enable Affymetrix to accelerate the development and commercialization of new genetic analysis solutions and increase the value of its current product portfolio.
Kevin King, president of Affymetrix, said: “The integration of USB’s biochemical reagents with Affymetrix’s current and future products will greatly accelerate our ability to develop and commercialize more complete customer solutions.”