Thermo Fisher (NYSE:TMO) said today that it closed the $4.2 billion acquisition of electron microscopy company FEI Co. for $107.5 per share in cash.
FEI designs, manufactures and supports high-performance electron microscopy workflows, Thermo Fisher said. The company has more than 3,000 employees worldwide and reported revenues of $930 million last year.
“We are pleased to complete this transaction and officially welcome our new colleagues from FEI to Thermo Fisher. With FEI’s leading electron microscopy platform, we’re now in an even stronger position to help our life sciences customers accelerate advancements in structural biology. FEI’s products also create new opportunities for us to serve customers in materials science markets that increasingly rely on nanotechnologies. FEI is an outstanding strategic fit with our Analytical Instruments business and we will create significant value for our customers by leveraging our global scale and commercial reach to extend the use of these technologies. For our shareholders, we expect to deliver immediate earnings accretion and synergies,” president & CEO Marc Casper said in prepared remarks.
The company said it will update its 2016 annual guidance to reflect the acquisition during its 3rd quarter earnings call in late October.
Waltham, Mass.-based Thermo Fisher announced the purchase in May. The news came 2 months after Thermo Fisher bought gene-sequencing products maker Affymetrix Inc to boost its product offerings with smaller, complementary acquisitions.
Thermo Fisher told analysts that it expected to deploy about $12 billion of capital over the next three years for these deals, which could drive a $3 billion upside in revenue, Cowen and Co analysts wrote in a note.
Material from Reuters was used in this report.
