Battery Ventures has agreed to acquire TTP Labtech Ltd from the TTP Group. No financial terms were disclosed. UK-based TTP Labtech is a producer of liquid-handling instrumentation and sample-storage systems that help prepare and manage scientific samples.
PRESS RELEASE
BOSTON–(BUSINESS WIRE)–Battery Ventures, a global, technology-focused investment firm, has reached an agreement to acquire TTP Labtech Ltd.* from the TTP Group, a diversified technology and product-development company. TTP Labtech designs and produces liquid-handling instrumentation and sample-storage systems to help prepare and manage scientific samples.
In partnership with Battery, TTP Labtech — based in Cambridge, United Kingdom — will continue to focus on growing its business in the pharmaceutical, biotechnology and academic-research markets. Specifically, the company will use Battery’s additional resources to invest in product development and to pursue complementary, strategic acquisitions. Terms of the transaction were not disclosed.
“We feel Battery’s investment is a real positive for TTP Labtech’s customers and employees. We look forward to partnering with Battery as the firm supports TTP Labtech’s tradition of excellence in the sample-preparation and sample-management technology sector,” said Peter Taylor, chairman of the TTP Group. “TTP Labtech now has a partner to support its growth vision and extend its industry reach through investment in R&D and acquisitions.”
Founded in 2001, TTP Labtech is a global manufacturer of liquid-handling instrumentation and sample- storage systems for sample-preparation and sample-management applications. The company’s products are used for process control and to optimize workflow efficiency across a variety of tasks in the pharmaceutical, biotechnology and academic-research markets. The company’s products are used across a range of applications including genomics, drug discovery and structural biology. TTP Labtech will continue to manufacture its products in the United Kingdom and, in partnership with Battery, will expand its footprint in the Melbourn Science Park near Cambridge.
“At Battery, we have been following TTP Labtech for a number of years, and we are excited to now have the opportunity to work closely with the company’s management team to continue to build a high-profile, global player in this large and growing life-sciences market,” said Jesse Feldman, a Battery Ventures general partner. “The combination of TTP Labtech’s product portfolio and its global reach is an extremely solid foundation we will continue to build upon.”
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. *TTP Labtech is a Battery portfolio company. For a complete list of all portfolio companies, please click here.
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About Battery Ventures
Battery Ventures strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list* of Battery’s portfolio companies here.
About TTP Labtech
TTP Labtech offer a portfolio of products which minimize assay volumes, improve workflows and minimize costs within drug discovery, structural biology, molecular biology and genomics. We enable life scientists through collaboration, deep application knowledge and leading engineering to accelerate research and make a difference together. Our essential tools harness the power from innovative technologies such as positive displacement, laser scanning imaging cytometry and pneumatic tube transport. Many of our innovations have been born out of the desire to create solutions to existing customer problems; and it’s this ethos that drives TTP Labtech’s R&D efforts. The substantial breadth of expertise within our company enables us to be involved in the full life cycle of our products from the initial design concept, mechanical and software engineering and prototyping, to final manufacture and sale. Our strengths come from the trust our customers have with us to develop truly unique, automated technologies to meet their needs.
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