- Thermo Fisher will pay $925 million in cash for Gatan Inc.
- Roper, a Sarasota software and engineered products firm, that makes instruments and software for electron microscopes bought Gatan 22 years ago, paying about $51.8 million.
- For 2018, Gatan is expected to generate about $150 million in revenue.
Roper Technologies Inc. agreed to sell a business unit that makes instruments and software for electron microscopes to Thermo Fisher Scientific Inc.
Thermo Fisher will pay $925 million in cash for Gatan Inc., a wholly owned subsidiary of Roper, a press release said.
Roper, a Sarasota software and engineered products firm, bought Gatan 22 years ago, paying about $51.8 million, according to a May 1996 Wall Street Journal report about the deal. Gatan was expected to report revenue of about $26.5 million in revenue for the fiscal year beginning May 31, 1996, the Journal said.
For 2018, Gatan is expected to generate about $150 million in revenue.
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Gatan is headquartered in Pleasanton, California and has key manufacturing operations in Warrendale, Pennsylvania. Gatan has about 320 employees globally.
Thermo Fisher, a life sciences firm headquartered in Waltham, Massachusetts, “is the perfect home for Gatan,” Brian Jellison, Roper’s chairman, president and CEO, said in a statement.
The Gatan transaction is expected to close by the end of 2018.
Roper is an active mergers and acquisitions player, but has been more of a buyer than a seller for the past several years. In 2017, the company completed four acquisitions for an aggregate purchase price of $152 million, and sold a product line in its energy systems and controls segment for $10.4 million, according to filings with the U.S. Securities and Exchange Commission.
Roper did its biggest deal ever in 2016, when it paid $2.8 billion for software and information solutions company Deltek, one of six deals Roper completed that year.
Roper closed its most recent deal, the $1.1 billion purchase of PowerPlan, a software company, on June 4.
Date: July 9, 2018
Source: Business Journal
