CARLSBAD, Calif. (AP) -- Laboratory supplier Life Technologies Corp. said Friday it took a 74 percent stake in synthetic gene maker Geneart AG.
Life Technologies said it bought about 2.6 million shares, or 59 percent of Geneart stock, on April 9. Those shares had belonged to Geneart management, founders, and venture capital backers. It then started a tender offer for the remaining stock, and was able to buy 554,000 more shares. All the shares were bought with cash.
It said Geneart, based in Germany, had revenue of 17 million euros ($20.9 million) in 2009.
