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Bruker completes acquisition of Veeco's AFM, OIM lines

Posted: 13 Oct 2010 ?? ?Print Version ?Bookmark and Share

Keywords:Atomic Force Microscopy? Optical Industrial Metrology? scientific instruments?

Scientific instruments and solution supplier Bruker Corp. closed a deal to purchase Veeco Instrument Inc.'s atomic force microscopy (AFM) and the optical industrial metrology instruments businesses for $229.4 million in cash.

The California-based AFM scientific instruments business and the Arizona-based OIM business have now become part of the Bruker Nano Division, which belongs to the Bruker AXS Group. The acquisition added more than 350 employees in eleven countries to Bruker.

The acquired businesses complement Bruker's existing systems and solutions. Bruker's portfolioincludes a broad range of high-performance X-Ray Diffraction (XRD), X-Ray Fluorescence (XRF), XRF microanalysis (?XRF), vibrational spectroscopy (FTIR, NIR, Raman) and AFM hybrid (e.g. AFM-Raman, AFM-optical microscopy) systems, together with 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 provider 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 had extended 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 states, "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." He continues, "Moreover, we cordially welcome the many talented and motivated new AFM and OIM colleagues who have just joined Bruker."

Mark R. Munch, Ph.D., the previous Executive VP of Veeco's Metrology and Instrumentation Business, has been appointed as 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 and has been the Veeco Executive VP since February 2008. Dr. Munch says, "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."

In 2011, the acquired Bruker Nano AFM and OIM businesses are forecasted to contribute revenues greater than $130 million, and adjusted operating margins (excluding acquisition-related and non-cash intangible amortization charges) of greater than 15 percent. The overall effect is expected to result in the new AFM and OIM businesses being approximately two to four cents accretive to Bruker's 2011 GAAP EPS, and six to eight cents accretive to 2011 adjusted EPS.

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