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Integrated DNA Technologies, a maker of synthetic DNA and RNA that started in Coralville, will be acquired by a multibillion-dollar conglomerate of science and technology companies.
Washington, D.C.-based Danaher Corp. announced last week that it plans to buy Integrated DNA for an undisclosed amount.
Integrated DNA was founded in 1987 by University of Iowa biochemistry researchers. It now has its headquarters in Skokie, Ill. and boasts more than 1,200 employees and 100,000 customers, according to a news release.
The company manufactures nucleic acids used in academic research, pharmaceutical development and other industries.
'Joining Danaher will allow us to accelerate the high pace of innovation and superior service our customers have come to expect from us, as well as help expand our global reach,” Integrated DNA founder, CEO and Chairman Joseph Walder said in the release.
About 770 of the company's employees work in Coralville where it has a manufacturing hub, Integrated DNA spokeswoman Gwen Rosenberg said.It also has manufacturing locations in San Diego, Calif.; Leuven, Belgium; and Singapore.
The companies do not expect any major changes for employees post-acquisition, Rosenberg said in an email.
Danaher's acquisition of Integrated DNA is expected to close by the middle of the year and is subject to regulatory approval. Once finished, Integrated DNA will operate as a stand-alone company and brand within Danaher's Life Sciences division, the companies said.
'IDT expands our presence into the highly attractive genomics market and will help play a central role in accelerating our customers' research and time to market as they develop critical diagnostic tests and potential lifesaving therapies,” said Rainer Blair, executive vice president of Danaher's Life Sciences division.
Danaher reported $18.3 billion in sales and $2.5 billion in profit for 2017. It had about 67,000 employees across its more than 20 subsidiaries.
The Life Sciences division accounted for 31 percent of Danaher's revenues in 2017 and includes companies such as Pall Corp., Leica Microsystems and Beckman Coulter.
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