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Veeco Buys ThermoMicroscopes.

Plainview, NY 7/16/01--Veeco Instruments has acquired ThermoMicroscopes from Thermo Electron for an undisclosed amount. ThermoMicroscopes will change its name to TM Microscopes and will become part of Veeco's Metrology Group. ThermoMicroscopes manufactures atomic force microscopes, scanning probe microscopes, near field optical microscopes and probes. In 2000, it posted revenues of approximately $14 million. Veeco stated that the acquisition gives it the most complete product line, including low cost research microscopes and products for material science and nanoscience applications. In addition, the deal gives it access to proprietary tip technology.

ThermoMicroscopes was created by ThermoSpectra acquisitions of Park Scientific (see IBO 1/31/07) and Topometrix (see IBO 10/15/ 98). Together, these acquisitiond cost Thermo $25 million and represented acquired annual revenues of over $25 million. The 2000 revenues of $14 million indicate just how troubled this business has been. This deal also raises possible anti-trust issues as Veeco now controls the lion's share of the SPM market. In addition, this deal signals what may be a new period of divestments for ThermoElectron.
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Title Annotation:Veeco Instruments
Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 31, 2001
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