On Thursday, Bio-Rad Laboratories confirmed that it has completed its purchase of the AbD Serotec division of Germany's MorphoSys AG for about $70 million cash.
In a statement, Bio-Rad described AbD Serotec as being "one of the world's leading antibody manufacturers offering more than 15,000 antibodies, kits, and accessories."
According to S&P Capital IQ, Serotec is profitable, earning $1.2 million in 2011 on $25.1 million in revenues.
Bio-Rad shares are up 0.2% as of this writing, at $110.00, and up nearly 6% since the acquisition was first announced last month.
The article Bio-Rad Completes AbD Serotec Purchase originally appeared on Fool.com.Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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