Bruker BioSciences, Optics union will deliver molecular analysis systems
Bruker BioSciences Corp. (BRKR) plans to acquire all the stock of molecular spectroscopy company Bruker Optics Inc. for $135 million, payable 59% in cash and 41% in BRKR stock. The acquisition agreement was signed following unanimous approval by a special committee of independent directors and all independent directors of the board of directors of Bruker BioSciences . (Non-independent BRKR directors refrained from participating in the vote.) The agreement was also unanimously approved by the board of Bruker Optics .
The combined company will have a broad range of mass spectrometry, x-ray analysis, and molecular spectroscopy technology platforms to provide complementary systems for chemical and material analysis and for proteomics. It will be able to provide instrumentation and molecular analysis solutions for pharmaceutical and biotechnology research and development; proteomics and structural biology; advanced materials research and nanotechnology; pharmaceutical process analysis technology (PAT); food, beverage, feed, and agricultural analysis; and advanced and raw materials research and process analysis.
“With the addition of Bruker Optics, Bruker BioSciences will considerably increase and diversify its market presence, technology base, product line, global distribution and customer support capabilities,” said Bill Linton, chairman and CEO of Promega Corp. and lead director of Bruker BioSciences. “The acquisition,” he went on, “is expected to create a life science and analytical systems company with greater than $400 million of revenue in 2006, and with improved operating and net income margins.”
The transaction is subject to customary regulatory approvals and is expected to close this summer.
— Jeanine Katzel, senior editor, Control Engineering