Printer Friendly

PerkinElmer Purchases NEN Life Sciences.

Boston, MA 6/12/00-PerkinElmer announced it will acquire NEN Life Sciences from an investor group, led by Genstar Capital LLC, for approximately $400 million. NEN Life Sciences provides products for functional genomics, high-throughput screening and drug discovery. For this year, the company's revenues are expected to be $125 million. PerkinElmer estimates that the combined life science businesses will generate around $300 million in revenue, with over 75% of it related to services and consumables. The acquisition should be completed in the third quarter.

This acquisition by PerkinElmer reaffirms its strategic intent to stake out a growing role in the burgeoning life sciences arena. NEN will join PerkinElmer's Life Sciences sector and bring that group to over $300 million. No doubt the handsome premium paid convinced NEN that this was better than an IPO.
COPYRIGHT 2000 Strategic Directions International Inc. (SDI)
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2000 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 15, 2000
Previous Article:Molecular Devices Acquires LJL Biosystems.
Next Article:PE Biosystems Signs Agreement with Boston Probes.

Related Articles
Endpoint: Chemdex and SciQuest Make Their Moves.
Random Samples.
Life Science, Alliances and E-Business Highlight Pittcon 2000.
Random Samples.
PerkinElmer's Challenging Changes.
PerkinElmer: refocused and on the move.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters