General Electric has scooped up Thermo Fischer Scientific’s DNA purifying and cell-line growing technology for just over $1 billion, Bloomberg reports.
The deal helps both companies pursue their respective business objectives. Bloomberg notes that the deal means GE will now be able to promote technologies that aid discovery and manufacturing of medicines and diagnostics, somewhat counterbalancing its exit from consumer finance.
At the same time, Bloomberg notes, the divestiture could help Thermo Fischer get EU approval to acquire Life Technologies Corp. for $13.6 billion. This deal would put Life’s genetic testing and mapping equipment under Thermo’s roof.
