WALTHAM, Mass. and SARASOTA, Fla., June
28, 2018 /PRNewswire/ -- Thermo Fisher Scientific Inc.
(NYSE: TMO), the world leader in serving science, and Roper
Technologies, Inc. (NYSE: ROP), a leading diversified technology
company, today announced that they have entered into a definitive
agreement under which Thermo Fisher
will acquire Gatan, Inc., a wholly owned subsidiary of Roper, for
approximately $925 million in cash.
Gatan is a leading manufacturer of instrumentation and software
used to enhance and extend the operation and performance of
electron microscopes.
Gatan's technologies are used in materials science, electronics
and life sciences to enable electron microscopy workflows – from
specimen preparation and manipulation to imaging and analysis.
These solutions, which are platform agnostic, include filter
systems, cameras and proprietary software. With approximately 320
employees globally, Gatan is headquartered in Pleasanton, Calif., and has key manufacturing
operations in Warrendale, Penn.
The business is expected to generate approximately
$150 million in revenue for full year
2018.
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. We look forward to welcoming the Gatan team to
Thermo Fisher."
"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
chief executive officer. "We are grateful to Gatan's talented
employees for their contributions to Roper and wish them continued
success with their revolutionary work to enable electron microscopy
technology."
The transaction, which is expected to be completed by the end of
2018, is subject to customary closing conditions, including
regulatory approvals. The pre-merger waiting period for the
transaction under Hart-Scott-Rodino in the U.S. expired
June 4, 2018. Upon completion of the
transaction, Gatan will become part of Thermo Fisher's Analytical Instruments
Segment.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in
serving science, with revenues of more than $20 billion and approximately 70,000 employees
globally. Our mission is to enable our customers to make the world
healthier, cleaner and safer. We help our customers accelerate life
sciences research, solve complex analytical challenges, improve
patient diagnostics, deliver medicines to market and increase
laboratory productivity. Through our premier brands – Thermo
Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and
Unity Lab Services – we offer an unmatched combination of
innovative technologies, purchasing convenience and comprehensive
support. For more information, please visit
www.thermofisher.com.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500, Fortune
1000 and the Russell 1000 indices. Roper operates businesses that
design and develop software (both license and
software-as-a-service) and engineered products and solutions for a
variety of niche end markets. Additional information about Roper is
available on the company's website at www.ropertech.com.
About Gatan
Gatan is the world's leading manufacturer of instrumentation and
software used to enhance and extend the operation and performance
of electron microscopes. Gatan's products, which are fully
compatible with all brands of electron microscopes, 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
Gatan brand name is recognized and respected throughout the
worldwide scientific community and has been synonymous with
high-quality products and the industry's leading technology.
Forward Looking Statements
The following constitutes a "Safe Harbor" statement under the
Private Securities Litigation Reform Act of 1995: This press
release contains forward-looking statements that involve a number
of risks and uncertainties. Important factors that could cause
actual results to differ materially from those indicated by
forward-looking statements include risks and uncertainties relating
to: the need to develop new products and adapt to significant
technological change; implementation of strategies for improving
growth; general economic conditions and related uncertainties;
dependence on customers' capital spending policies and government
funding policies; the effect of exchange rate fluctuations on
international operations; use and protection of intellectual
property; the effect of changes in governmental regulations; and
the effect of laws and regulations governing government contracts,
as well as the possibility that expected benefits related to
Thermo Fisher's recent or pending
acquisitions may not materialize as expected. Additional important
factors that could cause actual results to differ materially from
those indicated by such forward-looking statements are set forth in
Thermo Fisher's Quarterly Report on
Form 10-Q for the quarter ended March
31, 2018, which is on file with the SEC and
available in the "Investors" section of Thermo Fisher's website under the heading "SEC
Filings." While the parties to the acquisition may elect to update
forward-looking statements at some point in the future, they
specifically disclaim any obligation to do so, even if estimates
change and, therefore, you should not rely on these forward-looking
statements as representing the parties' views as of any date
subsequent to today.
Thermo Fisher Scientific Inc.
Media Contact Information:
Karen Kirkwood
Phone: 781-622-1306
E-mail: karen.kirkwood@thermofisher.com
Website: www.thermofisher.com
or
Investor Contact Information:
Ken Apicerno
Phone: 781-622-1294
E-mail: ken.apicerno@thermofisher.com
or
For Gatan:
Roper Technologies Investor Relations
Phone: 941-556-2601
E-mail: investor-relations@ropertech.com
Website: www.ropertech.com
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SOURCE Thermo Fisher Scientific