Thermo Fisher Scientific to buy diversified technology company Gatin for $925 mn
29 June 2018
Thermo Fisher Scientific Inc, the world’s largest scientific instruments maker, yesterday struck a deal to buy Gatan Inc, a diversified technology company, from Roper Technologies Inc, for $925 million in cash.
Gatan is a manufacturer of instrumentation and software used to enhance and extend the operation and performance of electron microscopes.
Its products are fully compatible with all brands of electron microscopes and cover the entire range of the analytical process from specimen preparation and manipulation to imaging and analysis.
Its customer base spans the complete spectrum of end users of analytical instrumentation typically found in industrial, governmental and academic laboratories. The applications addressed by these scientists and researchers include metallurgy, semiconductors, electronics, biological science, new materials research and biotechnology.
The Pleasanton, California-based company employs around 320 people globally, and has key manufacturing operations in Pennsylvania.
The company expects to generate around $150 million revenue for full year 2018.
Post closing, Gatan will become a part of Thermo Fisher’s analytical instruments segment.
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," he added.
"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 CEO.
Created in 2006 by the merger of Thermo Electron and Fisher Scientific, Thermo Fisher Scientific is a multinational biotechnology product development company, having annual revenues of more than $20 billion and employing around 70,000 people.
Its biggest deal so far has been the 2013 acquisition of genetic testing and precision laboratory equipment maker Life Technologies Corp, for $13.6 billion.