Bruker Corporation (NASDAQ: BRKR) today announced the closing of its acquisition of the Atomic Force Microscopy (AFM) and the Optical Industrial Metrology (OIM) instruments businesses from Veeco Instruments, Inc. (NASDAQ: VECO) for $229.4 million in cash.
The industry-leading AFM scientific instruments business headquartered in Santa Barbara, California, as well as the OIM business based in Tucson, Arizona, along with the global AFM/OIM field sales, applications and support organizations, have now become part of the Bruker Nano Division, which is part of the Bruker AXS Group, adding more than 350 employees in eleven countries. The 2009 revenues for the AFM and OIM instruments businesses were derived approximately 38% from Asia-Pacific, 31% from the Americas, and 31% from Europe, and in terms of customers approximately 45% from applied/industrial customers and 55% from academic/government customers.
The acquired AFM and OIM businesses are highly complementary to Bruker's existing systems and solutions, and the combined product portfolio transforms Bruker into a global leader in materials research and nanotechnology analysis instrumentation. In addition to the newly acquired AFM and OIM product lines, Bruker offers a broad range of high-performance X-Ray Diffraction (XRD), X-Ray Fluorescence (XRF), XRF microanalysis (μXRF), vibrational spectroscopy (FTIR, NIR, Raman) and AFM hybrid (e.g. AFM-Raman, AFM-optical microscopy) systems, as well as EDS and EBSD analyzer accessories for third-party electron microscopes, all used for surface analysis in materials, life-science and nanotechnology R&D and quality control.
Bruker has long been a global leader in life-science research tools with a focused portfolio of high-performance NMR, pre-clinical MRI, EPR, life-science mass spectrometry and X-ray crystallography instruments. In May 2010, Bruker also expanded its mass spectrometry portfolio into the chemical analysis markets with the acquisition of laboratory GC, GC-MS/MS and ICP-MS product lines of Varian Inc.
Frank Laukien, President and CEO of Bruker Corporation, stated: "We are very excited about the addition of these highly regarded AFM and OIM businesses to Bruker, as they complement our focused product and market strategies very well. With these additional high-performance and industry-leading products, Bruker can now serve its global customers and markets even better. Moreover, we cordially welcome the many talented and motivated new AFM and OIM colleagues who have just joined Bruker."
Mark R. Munch, Ph.D., previously the Executive Vice President of Veeco's Metrology and Instrumentation Business, has been appointed President of Bruker Nano, Inc. with responsibility for the acquired AFM and OIM businesses. Dr. Munch received his Ph.D. in Chemical Engineering from Stanford University. He has been the Veeco Executive Vice President, Metrology and Instrumentation since February 2008. From 2006 to 2008, he was Senior Vice President and General Manager of the Commercial Lasers and Components Group of Coherent Inc. From 2004 to 2006, Dr. Munch was Chief Executive Officer and President of Cooligy Inc. Prior to that, he held a number of executive and general management positions at Corning Inc., Tyco Electronics Corporation, and Raychem Corporation.
Dr. Munch commented: "Together with Bruker, we now have a tremendous new ability to further develop innovative products that will evolve the industry and how we measure and obtain nanoscale information. Bruker has been extremely supportive from the start and is dedicated to ensuring that our current and future customers receive the highest performing and most innovative instruments with unsurpassed service."
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