Ametek acquires analytic instrumentation developer
Paoli, Pa. - To expand its position in analytic instrumentation, Ametek Inc. announced Jan. 2 that it has acquired Instruments for Research and Applied Science (IRAS, Oak Ridge, Tenn.) from PerkinElmer Inc. (Boston, Mass.) for about $63 million cash.
Paoli, Pa. - To expand its position in analytic instrumentation, Ametek Inc. announced Jan. 2 that it has acquired Instruments for Research and Applied Science (IRAS, Oak Ridge, Tenn.) from PerkinElmer Inc. (Boston, Mass.) for about $63 million cash. IRAS will become a new unit, named Advanced Measurement Technology, within Ametek's Electronic Instruments Group.
Ametek also acquired PerkinElmer's 49% stake in Seiko EG&G, a joint venture that is the exclusive distributor of IRAS' products in Japan.
IRAS manufactures and markets advanced analytical instrumentation used in nuclear spectroscopy, research electrochemistry, electronic signal processing and other applications. IRAS has 275 employees and was expected to report 2001 sales of approximately $50 million.
'Our acquisition of IRAS further expands Ametek's position in differentiated analytic instruments,' says Frank Hermance, Ametek's chairman and ceo. 'IRAS significantly extends our capabilities in the measurement of physical properties. It brings new technologies, applications and end-market opportunities to Ametek, and also provides an additional platform for growth.
'IRAS is a market leader in nuclear spectrometry instruments and systems. These sophisticated instruments and associated software are focused on the increasingly important areas of environmental monitoring, detection of nuclear and chemical weapons, and research. IRAS also has strong positions in instrumentation for electric signal processing and electrochemical applications.'
IRAS markets its instruments under the Ortec, Princeton Applied Research and Signal Recovery brand names. Ortec's products include high-purity germanium detectors and spectrometers used to detect, identify, quantify and monitor radioactive materials. Princeton Applied Research's products include high-precision electrochemical analysis instruments used in research, life sciences and semiconductor applications. Signal Recovery's products include instruments that measure low-level or contaminated electrical signals with applications in the electronics, optics, industrial and research markets.
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