Galileo Ends Discussions to Sell Product Lines.

Sturbridge, MA, 11/6/98-Galileo Corporation announced that it has terminated discussions to sell certain product lines in its Scientific Detector and Remote Spectroscopy Business, as it and the potential purchaser could not agree on the terms of the sale. This news follows an announcement in August by Galileo that it had signed a non-binding letter of intent to divest the product lines. Galileo stated that it intends to continue to operate these lines, service customers, and develop products, as it had prior to the initiation of the divestiture discussions. Galileo has had trouble -much of it not of its own making-finding a strong product line (see article on page 1). Dicorotron assemblies were the lead product until Xerox cancelled its OEM deal and Galileo turned its emphasis to medical endoscopes and telecommunications products. A marketing partner for endoscopes didn't emerge, spectroscopy ran into regulatory troubles, and the company recently announced telecommunications products "do not justify the expenditure of additional resources." Having been unable to strike a satisfactory deal for its spectroscopy operations, Galileo is looking to the unit to spearhead to its growth. Robert A. White, GM of Scientific Detector Products, told IBO the company is hiring more research engineers and going after the spectroscopy market aggressively.