Waters Corporation has revealed it will acquire Wyatt Technology, a provider of light scattering and field-flow fractionation instruments, software, accessories, and services, for $1.36 billion.
The transaction is expected to close in the second quarter of 2023, subject to regulatory approvals and other closing conditions.
Bioanalytical characterisation for new modalities including cell and gene therapies is a significant market opportunity, with a $1.8 billion total addressable market and 10-12% projected annual growth.
Wyatt is a privately-held family company with 2022 revenues of approximately $110 million. As well as on-line multi-angle laser light scattering instruments, the company offers well-plate based dynamic light scattering and field-flow fractionation for separating nanoparticles in solution.
These are used in discovery, product development, manufacturing, and QA/QC settings to determine the critical quality attributes of novel therapeutics such as cell and gene therapies, vaccines, and proteins, as well as synthetic polymers and nanoparticles.
Dr Udit Batra, President and CEO, Waters Corporation, commented: “While biologics therapies, including cell and gene therapies, can dramatically change the quality of life for a significant percentage of the population, the cost of delivering these therapies is a major barrier for broader adoption. We share a common mission to harness our technology and expertise to increase the availability and affordability of life-changing therapies. We look forward to welcoming the Wyatt team to the Waters family.”
