By Sabela Ojea


Thermo Fisher Scientific Inc. said Monday it has signed a definitive agreement with European private equity firm Nordic Capital to buy The Binding Site Group for $2.6 billion.

The Waltham, Mass.-based scientific equipment company said The Binding Site, a specialty diagnostics company, has been growing roughly 10% annually and is on track to deliver revenue of more than $220 million in 2022.

The transaction is expected to be completed in the first half of 2023.

The proposed acquisition plus the planned execution of $1 billion of share buybacks in the fourth quarter bring the company's total capital deployment commitment for 2022 to $6.1 billion.


Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


(END) Dow Jones Newswires

10-31-22 0753ET