Waters Corp. has announced a $1.36 billion acquisition of the California-based scientific instrument maker, Wyatt Technology.
Waters’ plan to acquire Wyatt is the Milford lab equipment manufacturer’s largest acquisition to date. It comes with Santa Barbara, Calif. facilities as well as 225 employees and a suite of products that complement Waters’ portfolio.
Waters sees bioanalytical characterisation for new modalities including cell and gene therapies as a significant market opportunity, with a $1.8 billion total addressable market and 10-12% projected annual growth. By applying Waters’ well-established business model, Empower informatics software, global reach and scale, Waters and Wyatt are well-positioned to build a high-growth bioanalytical characterisation business.