PerkinElmer Boosts Software Offerings In 2 Deals Valued At $220 Million

Date : 03/24/2011 @ 9:56AM
Source : Dow Jones News
Stock : Perkinelmer, Inc. (PKI)
Quote : 71.64  -0.09 (-0.13%) @ 3:59PM

PerkinElmer Boosts Software Offerings In 2 Deals Valued At $220 Million

Perkin Elmer (NYSE:PKI)
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PerkinElmer Inc. (PKI) signed a definitive agreement to acquire software and database company CambridgeSoft Corp. and completed its purchase of software firm ArtusLabs Inc., deals together valued at $220 million.

The acquisitions carry an added contingent payment of up to $15 million. The deals are expected to boost PerkinElmer's adjusted earnings for the rest of the year by about 4 cents a share.

PerkinElmer, which sells analytical products and services to the health-care and industrial sectors, has seen strong revenue growth lately, helped by its environmental health division. Revenue also has increased in its human-health division. Last month, it reported its fourth-quarter earnings soared as it booked a $315.3 million gain on the disposition of discontinued operations.

For 2011, CambridgeSoft and ArtusLabs together expect revenue of about $65 million. The deal for CambridgeSoft is expected to close in the second quarter.

CambridgeSoft offers desktop software and scientific databases, among other things, to the pharmaceutical, biotechnology and chemical industries, while ArtusLabs' flagship product, Ensemble, blends social networking and data mining.

PerkinElmer shares recently rose 0.7% to $26 premarket. The stock is up 7.7% in the past 52 weeks.

-By Lauren Pollock, Dow Jones Newswires; 212-416-2356;


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