Thermo Fisher Scientific Inc., the world leader in serving science, and Roper Technologies, Inc., a leading diversified technology company, today announced that they have entered into a definitive agreement under which Thermo Fisher will acquire Gatan, Inc., a wholly owned subsidiary of Roper, for approximately $925 million in cash. Gatan is a leading manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes.
Gatan’s technologies are used in materials science, electronics and life sciences to enable electron microscopy workflows – from specimen preparation and manipulation to imaging and analysis. These solutions, which are platform agnostic, include filter systems, cameras and proprietary software. With approximately 320 employees globally, Gatan is headquartered in Pleasanton, Calif., and has key manufacturing operations in Warrendale, Penn. The business is expected to generate approximately $150 million in revenue for full year 2018.
Dan Shine, president of Thermo Fisher’s Analytical Instruments business, said, “Gatan has been a trusted supplier of components to the electron microscopy industry for many years, and we look forward to building on its strong reputation. Adding Gatan’s technologies to our leading electron microscopy portfolio will enhance our customer offering by creating an integrated system that seamlessly connects microscope hardware, software and accessories. We look forward to welcoming the Gatan team to Thermo Fisher.”
“Thermo Fisher is the perfect home for Gatan, and the combination of these businesses will be an ideal fit for Gatan’s customers and employees,” said Brian Jellison, Roper’s chairman, president and chief executive officer. “We are grateful to Gatan’s talented employees for their contributions to Roper and wish them continued success with their revolutionary work to enable electron microscopy technology.”
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The transaction, which is expected to be completed by the end of 2018, is subject to customary closing conditions, including regulatory approvals. The pre-merger waiting period for the transaction under Hart-Scott-Rodino in the U.S. expired June 4, 2018. Upon completion of the transaction, Gatan will become part of Thermo Fisher’s Analytical Instruments Segment.
Date: July 2, 2018
Source: MARKETS INSIDER
