PerkinElmer Acquires Elcos AG
PerkinElmer Inc. announced the acquisition of Elcos AG, a leading European designer and manufacturer of custom LED (light emitting diode) solutions for biomedical and industrial applications.
The transaction combines Elcos' visible LED technology platform and strong customer and application base with PerkinElmer's global sales, application and support organization, and will provide significantly greater growth opportunities for the Elcos technology.
"Elcos has a successful track record of delivering high performance LED solutions to premier OEMs with the majority of their revenue in biomedical instrumentation," said John Roush, president, PerkinElmer Optoelectronics. "By bringing PerkinElmer and Elcos together we expand our offering of technology solutions for new and existing customers."
Specialty LED solutions are well-suited for a variety of applications, including blood glucose monitoring and patient monitoring systems, as well as a number of industrial applications.
Based in Pfaffenhofen, Germany, Elcos had 2004 revenues of $11.3M with over 60% coming from health sciences applications, including blood glucose monitoring and pulse oximetry. Except for the effects, if any, of acquisition accounting, the transaction is not expected to have any impact on the EPS of PerkinElmer in 2005. Consideration for the transaction was $15M cash and the potential for earn out payments based on the future performance of the business.
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