Ottawa's DNA Genotek acquired for $53 Million

by Techvibes NewsDesk

Ottawa's DNA Genotek Inc. has agreed to be acquired by Pennsylvania-based OraSure Technologies Inc. for US $53 Million.

DNA Genotek makes saliva testing kits to collect and preserve DNA in human and animal saliva and serves more than 3,000 customers in 100 countries. DNA Genotek is privately held and reported sales of $14 Million in 2010.

DNA Genotek's world recognized saliva testing kits have helped the firm grow from just five employees in 2004 to more than 80 today.

The cash deal will see DNA Genotek operate as an independent unit under the OraSure umbrella and no layoffs are expected as a result of the acquisition.

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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