Ocimum Bio acquires Gene Logic's business

US-based Ocimum Biosolutions Inc, a provider of wide spectrum of bio-IT and genomic services with its Indian headquarters in Hyderabad, has announced the acquisition of Gene Logic's genomic business for $10 million in cash.

Green Logic is also a US-based company, which offers drug development solutions to the pharmaceutical industry.

The purchase includes Green Logic's knowledge products business, which is anchored by the world's largest databases of human biology, according to a company press release.

As part of the transaction, Ocimum has also acquired Gene Logic's comprehensive genomic and genetic services business, which provides customers with access to a biorepository of over 80,000 samples.