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Sartorius announces offer to acquire TAP Biosystems Group, a UK-based company.
Sartorius Stedim Biotech has made a cash offer to acquire the UK company TAP Biosystems Group (TAP Biosystems) through its wholly owned subsidiary Sartorius Stedim Biotech GmbH. The proposed transaction, which is subject to customary closing conditions, including the approval of TAP’s shareholders, values the equity of TAP Biosystems at approximately $44 million (€33 million). The transaction has been unanimously approved by the boards of directors of both companies and is expected to close at the end of 2013.
TAP Biosystems specializes in the design and development of small-scale, multi-parallel fermentation systems particularly for biopharmaceutical applications. With its ambr-product family, the company has launched a technology for single-use fermentation that is designed to mimic mammalian cell culture at small scale, an alternative to conventional systems.
Source: Sartorius Stedim Biotech