Waters Corporation Announces Agreement to Purchase NuGenesis Technologies Corporation
Waters Corporation announced that it has entered into a definitive merger agreement to acquire the outstanding capital stock of privately held Massachusetts-based NuGenesis Technologies Corporation for approximately $43 million, subject to the satisfaction of certain conditions contained in the merger agreement. The transaction is expected to be completed in the first quarter of 2004. On a pro-forma basis and prior to giving effect to anticipated acquisition charges, the transaction is expected to be neutral to Waters 2004 earnings.
With 2003 annual sales of more than $21 million, NuGenesis Technologies is an innovator and a leading supplier of advanced web-based scientific information management software products. These products integrate into existing information technology infrastructures and offer improvements in data management efficiency while supporting regulatory requirements such as 21 CFR Part 11. NuGenesis Technologies' list of current customers includes the world's largest pharmaceutical and chemical companies.
Commenting on the announcement, Douglas Berthiaume, Waters Chairman, President and CEO said, "The acquisition of NuGenesis Technologies and their successful NuGenesis(R) Scientific Data Management System (SDMS) in combination with the products and technologies from the July 2003 acquisition of Creon Lab Control, clearly will position Waters as a leader in the expanding field of scientific information management."
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