July 3, 2003 — Invitrogen Corp., a Carlsbad, Calif., provider of life science products, announced it has signed an agreement to acquire Molecular Probes Inc. of Eugene, Ore.
The deal, slated to be a cash transaction for about $325 million, has been approved by the boards of both companies and is anticipated to close in the third quarter.
The acquisition is intended to help position Invitrogen as a key partner in the drug discovery and development process. Privately held Molecular Probes makes fluorescent reagents for molecular and cell biology research.