Thermo Fisher Scientific Inc. has completed its acquisition of Olink Holding AB, a provider of next-generation proteomics solutions. The transaction values Olink at approximately $3.1 billion. Olink will become part of Thermo Fisher’s Life Sciences Solutions segment.

“We are excited to welcome Olink colleagues to Thermo Fisher,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. “Protein research is key to advancing our understanding of human biology and delivering on the promise of precision medicine. Olink’s proven and transformative solutions for proteomics are highly complementary to our leading mass spectrometry and life sciences offerings. By expanding our capabilities in the high-growth proteomics market, we will enable scientists and researchers around the globe to meaningfully accelerate discovery and scientific breakthroughs while delivering significant value to our shareholders.”