The acquisition, which is subject to clearance by the antitrust authorities, is expected to be completed in December 2008. Financial terms were not disclosed.
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.
Joachim Kreuzburg, CEO of Sartorius Stedim Biotech, said: “We are acquiring a company with a very strong track record in innovation and with competencies in fermentation that are 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.”