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Bruker AXS Acquires MAC Science to Further Penetrate Japanese Life Science and Materials Research Markets.

Business Editors/Health & Medical Writers

MADISON, Wis.--(BUSINESS WIRE)--April 18, 2002

Bruker AXS Inc. (NASDAQ: BAXS), a leading global provider of advanced X-ray solutions for the life and advanced materials sciences, today announced that its wholly owned Japanese subsidiary, Nihon Bruker AXS K.K., has signed a binding agreement to acquire substantially all the assets and certain liabilities of MAC Science Ltd., a Yokohama, Japan-based company focused on X-ray analysis instrumentation. The transaction is expected to close in the second quarter of 2002.

MAC Science was founded in 1987, and has become a significant participant in the Japanese X-ray and thermal analysis instrumentation market. The Japanese X-ray analysis market is estimated to total more than $150 million annually. MAC Science has an established Japanese distribution system with both a direct sales and a service force, as well as an additional distributors network. Since its foundation, MAC Science has installed more than 1,500 systems in Japan and the Pacific Rim.

Bruker AXS entered the Japanese market in 1997 with its CCD-based life-science systems, and has established a strong position in the crystallography market. The new combined business will be located in the Tokyo area to provide strong sales, applications and service support for the existing and future customers of Bruker AXS and MAC Science. The new facility will also house R&D, production and final systems integration for the Japanese market.

Dr. Martin Haase, President and CEO of Bruker AXS, said: "The good market position of MAC Science and its excellent compact X-ray source technology will allow us to further penetrate the large Japanese analytical X-ray market, which we estimate to account for more than 25% of the total world market. Having R&D and an assembly line close to our customers in Japan will enhance our ability to meet their demanding product and support requirements."

"We expect this acquisition to add approximately $2 million to our quarterly revenue, starting in the fourth quarter of 2002," continued Ms. Laura Francis, new CFO of Bruker AXS. "We anticipate that in 2003, this revenue component will begin to grow at our overall revenue target growth rate of greater than 15% per annum. In 2002, we estimate that this acquisition will have a dilutive effect on EPS of approximately $0.02 per share whereas in 2003 we do not expect any dilutive effect of the MAC Science acquisition. We anticipate that by 2004 the MAC Science acquisition will become accretive to our earnings."

Frank H. Laukien, Chairman of Bruker AXS, commented: "I expect that the combined business will give us the critical mass to grow our Japanese business significantly, and that we can become one of the top two players in advanced x-ray solutions in Japan. We believe this acquisition is a great strategic fit for Bruker AXS, and an excellent use of our IPO proceeds. The MAC Science acquisition will grow our technology and customer base, and should further accelerate our revenue and earnings growth."

Mr. Sadao Ueki, President of Nihon Bruker AXS KK, added: "The business combination of Bruker AXS and MAC Science will enable us to significantly broaden our presence in Japan. The dedicated MAC Science management team and employees will integrate well with our existing organization. I am excited about this transaction and foresee an excellent business opportunity for our combined forces."

Mr. Hideo Ohta of MAC Science, Technical Director of the future MAC Science Division of Bruker AXS, stated: "Bruker AXS has an excellent and very innovative product portfolio. When combined with our technologies and market know-how, we expect to become an important presence in the attractive Japanese analytical X-ray market. Our management team and employees are excited to join Bruker AXS. The Bruker AXS strategy to provide innovative technology-leading solutions and high-level in-country support for our customers will be a strong foundation for success."

About Bruker AXS

Bruker AXS is a leading developer and provider of life science and advanced materials research tools based on X-ray technology. The company develops, manufactures and markets worldwide advanced X-ray solutions for the three-dimensional structure determination of biological and chemical compounds, as well as for advanced materials research and analysis. Its diverse customer base includes pharmaceutical and biotechnology companies, advanced materials, semiconductor, synthetic polymer, and basic materials companies, as well as university and government research customers. Applications include x-ray crystallography for structural proteomics, and automated systems for combinatorial materials sciences. Bruker AXS has the most diverse set of x-ray technology platforms for molecular and materials analysis.

Safe-Harbor Statement

Statements in this press release that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve a high degree of risk and uncertainty that exist in the Company's operations and business environment. Such statements are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could affect actual events or results include risks associated with performance under the Company's agreements with third parties, research and development progress, competitive products and the strength of the Company's patent portfolio.
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Publication:Business Wire
Date:Apr 18, 2002
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