Merck KGaA has announced that it has successfully completed its acquisition of life sciences company Millipore Corporation for around $7bn.

Merck agreed to acquire Millipore in February 2010 for $107 cash-per-share of Millipore common stock.

Merck executive board chairman Karl-Ludwig Kley said that the move will help capture significant opportunities in the high-growth, high-margin market segments such as bio-research and bio-production.

The new division will offer a comprehensive range of products, technologies and services for pharma and biotech companies to improve laboratory productivity, and develop and optimise manufacturing processes.

EMD Millipore will consist of three business units – Bioscience, Lab Solutions and Process Solutions. Each unit will have a number of key focus areas.