Small BusinessMerck acquires Bangalore Genei
German multinational drug major Merck KGaA has acquired Bangalore Genei (India) Pvt Ltd (BGIP), which specialises in new generation proteomic and genomic research technologies, the cutting-edge study of proteins and organisms. Merck, which acquired the company through its wholly-owned Indian subsidiary, Merck Specialities Private, did not disclose the deal’s size.
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BGIP is a part of the Chennai-based speciality chemicals major, Sanmar Group. It has 100 employees and had generated total revenues of Rs 20.2 crore in 2008-09, according to a press release. By combining BGIP’s activities with Merck’s existing bioscience business, Merck will become one of the leading bioscience companies in India, the release added.
“BGIP’s leadership in the Indian academic market, a segment with high growth potential, will ideally complement our existing customer base. BGIP’s product portfolio comprises a wide range of bioscience products, which are tailored to the needs of the domestic market in India.” said Christina Shasserre, global head of Merck’s bioscience business.