Bio-Techne boosts tissue offering with acquisition

3 January 2018

USA-based purified protein maker Bio-Techne (Nasdaq: TECH) has acquired all of the stock of Atlanta Biologicals and its affiliated company, Scientific Ventures.

The transaction, the value of which has not been disclosed, is financed through available cash on hand, the company stated on Tuesday. Bio-Techne’s shares gained 1.47% to $131.46.

Atlanta Biologicals was founded in 1992 and has focused on supplying cell culture sera, media and reagents for the life science research market. It is located in Flowery Branch, Georgia and has approximately 25 employees. The acquisition is expected to be slightly accretive to Bio-Techne's adjusted earnings per share for its fiscal year 2018.

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