Tecan Group AG (“Tecan”), a global provider of automated laboratory instruments and solutions which is listed on the SIX Swiss Exchange, entered into a definitive agreement on 23 June 2021 to acquire US-based Paramit Corporation and its affiliates (“Paramit”) for a total purchase consideration of USD1.0 billion.
 
Paramit is an original equipment manufacturer (OEM) developer and a manufacturer of medical devices and life sciences instruments, with manufacturing facilities in the US and Penang, Malaysia.
 
Skrine acted as Malaysian counsel for Tecan on the Malaysian law aspects of the transaction.
 
Phua Pao Yii (Partner) led the M&A team and was supported by Associates Tan Wei Liang, Ting Shi Jing and Vanessa Ho. The M&A team was supported by Partner Selvamalar Alagaratnam and Senior Associates Sara Lau and Chen Mei Quin of our Employment Law Practice.
 
Media coverage of the transaction can be accessed at:
 
https://www.reuters.com/article/paramit-ma-tecan-group/swiss-group-tecan-to-buy-paramit-corp-for-1-billion-idUSL5N2O554E
 
https://www.tecan.com/news-detail?id=13868
 
https://www.paramit.com/2021/06/23/paramit-corporation-announces-acquisition-by-the-tecan-group/