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THERMO Fisher Scientific has agreed to buy fellow laboratory equipment manufacturer Dionex for $2.1b, as it looks to expand into new markets testing water and food in emerging countries such as China where quality control is being regulated more closely.

The deal combines complementary technology portfolios adding Dionex’s liquid and ion chromatography capabilities to Thermo Fisher Scientific’s gas chromatography and mass spectrometry offerings.

Buying Dionex, which generates 35% of revenue in the Asia-Pacific, Thermo Fisher Scientific gains access to an established customer base in emerging markets (including China) and the technology to tap into growing sectors including environmental, water and food testing, which is increasingly in demand as companies operating in developing countries must comply with tightening regulations.

“We believe the combination of Thermo Fisher and Dionex is extremely compelling from a technology, market and financial perspective,” Marc Casper, ceo of Thermo Fisher Scientific said in a statement.

“Specifically, it complements our strong presence in China, where we’ve established the headquarters for our global environmental instruments business and continue to build our commercial infrastructure to meet the needs of customers in growing water quality, consumer safety and life sciences markets.”

The deal represents a 32% premium on Dionex’s average closing share price for the last 60 days. The deal is unanimously supported by Dionex’s board and is expected to be finalised in Q1 2011.