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Biotech Channel News: Somerset Technologies announced recently that it is awaiting acquisition of Finesse Solutions Inc., a manufacturer of measurement and control solutions for biometric applications.
the acquisition had been terminated early under the Antitrust Improvement Act, and Seymru is expected to complete the acquisition in the coming days.
Santa Clara, California, is a leader in bio-process management technology, generating approximately $50 million in revenue in 2016.
its proprietary Smart technology consists of sensors, controllers and software designed to optimize bio-production workflows.
the business will be integrated into Thermo's Life Sciences Solutions division.
terms of the transaction were not disclosed.
N. Casper, President and CEO of
, said, "Finesse Solutions has been a technology partner for Seymru since 2013 and we are pleased to add fresh blood to our major biologics.
a common control system developed by Finesse Solutions that will seamlessly integrate with Somerset's existing single-use technology to strengthen our position in the high-growth bio-product market.
we are pleased to join Thermo Technology and look forward to using our strength and influence to accelerate our development and commercialization of smart technology platforms.
," added Dr. Barbara Paldus, CEO and co-founder of Finesse Solutions.
.