Battery Ventures, a global, technology-focused investment firm, is to acquire TTP Labtech Ltd, Cambridge, U.K.-based life-sciences technology company, from the TTP Group, a technology and product-development company.
The amount of the deal was not disclosed.
In partnership with Battery, TTP Labtech 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.
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 presence in the Melbourn Science Park near Cambridge.