Waters Acquires Thermometric For $2.5 Mln
Waters Acquires Thermometric For $2.5 Mln
Waters Corp. announced that the company has acquired all of the outstanding capital stock of Thermometric AB, which is a privately held company. Thermometric is a producer of high-performance microcalorimeters. The company noted that the transaction is valued around $2.5 million. After the completion of the purchase, Waters will be merging the acquired business into its TA Instruments Inc.
The Milford, Massachusetts based company said that Thermometric has yearly sales of nearly $4 million and the company expects the transaction to be neutral to its earnings for fiscal 2006. Waters Corp. is holding positions in the complementary analytical technologies called liquid chromatography, mass spectrometry and thermal analysis. These markets account for approximately $5 billion of the overall $20 to $25 billion analytical instrument market.
President of TA Instruments, Terry Kelly commented, "The technologies and products from Thermometric are complementary to our leading position in thermal analysis and will allow us to expand our business into new applications, especially in life science research".
WAT ended Monday's regular trading session at $42.76, up $0.43 or 1.02%, on a volume of 485,100 shares.
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