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Molecular devices acquires Universal Imaging. (News, Trends & Market Intelligence for Instrument Executives).

Sunnyvale, CA 6/3/02--Molecular Devices has purchased Universal Imaging Corp. (UIC) for $22 million in cash. UIC, formed in 1983, develops and sells automated cellular imaging and screening systems for biological and industrial imaging applications. UIC employs 52 people, with revenue totaling $9.6 million in 2001. Molecular Devices stated that the acquisition will expand its offering of tools for cell analysis. Molecular Devices estimates that the acquisition will contribute $6-$7 million in sales for the rest of 2002 and will be accretive to earnings per share in 2003.

This acquisition fits with Molecular Devices' current product line and allows it to capitalize on applications for cell analysis and imaging. The price paid in relation to sales reflects the demand for these techniques that are expected to be integral in proteomics research. Molecular Devices reports that UIC is profitable on an operating basis.
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Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 15, 2002
Words:145
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