The $16.3 million acquisition will expand Enzo’s life sciences product development, production and marketing capabilities, the company said. Axxora will become a wholly-owned subsidiary of New York-based Enzo.
Enzo said that the integration of Axxora is already underway and the company is in the process of overlaying Axxora’s capabilities in marketing and distribution with Enzo Life Sciences’ proprietary platforms and products, in the areas of nucleic acid labeling and detection technology.
Barry Weiner, president of Enzo, said: “The acquisition represents an excellent fit, one that will broaden Enzo’s national and international reach, enable our company to build critical mass both via acquisition and organically, and enhance results in this sector.”
Axxora had revenues of approximately $16 million and 60 employees worldwide in 2006. Axxora has wholly-owned subsidiaries in the US, Switzerland, Germany and the UK, as well as branch offices and distributors located in other major markets, and benefits from a history of profitability.