PerkinElmer acquires Caliper Life Sciences to expand molecular imaging portfolio
Waltham, MA--Health and safety company PerkinElmer (NYSE: PKI) signed a definitive agreement to acquire Caliper Life Sciences (Hopkinton, MA), a manufacturer of optical molecular imaging and detection solutions for life sciences research, diagnostics, and environmental markets, for $10.50 per share or a total net purchase price of approximately $600 million dollars. PerkinElmer chairman and CEO Robert F. Friel said, "The acquisition of Caliper Life Sciences brings innovative molecular imaging and detection technologies to our portfolio, complementing our world-leading offerings in life science, diagnostics, environmental and food markets."
The combined PerkinElmer and Caliper Life Sciences technology platforms will expand PerkinElmer's portfolio of health and safety solutions that includes: offerings for molecular, cellular, animal and tissue imaging to enable translational medicine research; addition of a microfluidics platform for genomics and proteomics applications; high-value sample preparation technologies for key scientific workflow areas such as next-generation DNA sequencing; more comprehensive solutions and services for identification of therapeutic response and biotherapeutics development; and platform technology additions to drive expansion into attractive areas such as detection for environmental contaminants and food pathogens.
Caliper Life Sciences CEO Kevin Hrusovsky said, "For 10 years, Caliper has partnered with strategic customers to develop a compelling suite of discovery technologies for broad life science applications. I am confident this is the correct strategic direction at this time for Caliper customers, shareholders and employees, and we are looking forward to becoming part of one of the leading companies in our industry." Hrusovsky is anticipated to join the PerkinElmer senior leadership team following the close of the transaction.
The acquisition has received the unanimous support of the boards of directors of both companies, and is expected to close in the fourth quarter of 2011. The transaction is subject to customary closing conditions, including approval of Caliper Life Sciences stockholders, and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
SOURCE: Caliper Life Sciences; www.caliperls.com/about/news-media-center/press-releases/press-release-20110908.htm
Gail Overton | Senior Editor (2004-2020)
Gail has more than 30 years of engineering, marketing, product management, and editorial experience in the photonics and optical communications industry. Before joining the staff at Laser Focus World in 2004, she held many product management and product marketing roles in the fiber-optics industry, most notably at Hughes (El Segundo, CA), GTE Labs (Waltham, MA), Corning (Corning, NY), Photon Kinetics (Beaverton, OR), and Newport Corporation (Irvine, CA). During her marketing career, Gail published articles in WDM Solutions and Sensors magazine and traveled internationally to conduct product and sales training. Gail received her BS degree in physics, with an emphasis in optics, from San Diego State University in San Diego, CA in May 1986.