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Article Excerpt
Acquisition Will Broaden Enzo's Life Science Activities and Expand Product Development, Production and Distribution Capabilities
NEW YORK -- Enzo Biochem, Inc. (NYSE:ENZ) announced today that its wholly owned subsidiary, Enzo Life Sciences, Inc., has signed a definitive agreement to acquire Axxora Life Sciences, Inc., a privately owned global manufacturer and marketer of life sciences research products, for approximately $16.3 million in cash. Upon completion of the acquisition, Axxora will become a wholly owned subsidiary of Enzo Life Sciences and will greatly expand Enzo's life sciences product development, production and marketing capabilities.
Axxora had revenues of approximately $16 million and 60 employees worldwide in 2006. Axxora has wholly-owned subsidiaries in the U.S., Switzerland, Germany and the United Kingdom, as well as branch offices and distributors located in...
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