Bruker Corp. (NSDQ:BRKR) closed its $37.5 million acquisition of three former Varian Inc. product lines from Agilent Technologies Inc.(NYSE:A).
In March, the companies announced the deal to sell Billerica, Mass.-based Bruker the three Varian divisions so Agilent could comply with European anti-trust laws.
Agilent acquired its Palo, Alto, Calif.-based instrument-making subsidiary in July 2009 for a reported $1.5 billion. Bruker bought Varian’s global inductively coupled plasma mass spectrometry instruments business in Melbourne, Australia, the company’s global laboratory gas chromatography instruments business in Middelburg, the Netherlands, and Varian’s global gas chromatography triple-quadrupole mass spectrometry instruments business in Walnut Creek, Calif.
The product lines will be wrapped into the new Bruker chemical analysis division, which is part of the Bruker Daltonics mass spectrometry business.
The deal with Agilent includes provisions to ensure the uninterrupted delivery of products and services to customers. Bruker said it retained more than 250 former Varian staff in the transaction.
The company said it expects the chemical analysis division to contribute about $2 million in revenues for the remainder of the second quarter. Bruker said it hopes to restore the three product lines to "historical financial performance levels" of $80 million to $100 million a year and operating margins exceeding 10 percent.
