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 UIC University of Illinois at Chicago
UIC Underground Injection Control
UIC Union of Islamic Courts
UIC United Industrial Corporation
UIC Union Internationale des Chemins de Fer (International Union of Railways) ) for $22 million in cash. UIC, formed in 1983, develops and sells automated au·to·mate
v. au·to·mat·ed, au·to·mat·ing, au·to·mates
1. To convert to automatic operation: automate a factory.
2. 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 Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. 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 Cap´i`tal`ize on`
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. 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.