Laboratory instruments giant Thermo Fisher Scientific took a step toward shoring up some softness in its analytic technologies business with its $120 million acquisition of Australia-based Biolab.
The deal extends the Waltham-based firm’s reach into the antipodes, as Biolab has a significant presence in Australia and New Zealand.
Biolab is the scientific and medical arm of 150-year-old Alesco Corp. Ltd., which distributes lab products and scientific testing instruments to the biotechnology, environmental, food, pharmaceutical, water, wastewater and medical supplies industries.
Its portfolio could help boost Thermo Fisher’s analytic technologies business, where sales slid 14 percent during the first quarter of 2008.