Danaher Corporation, manufacturer of process and environmental controls, announced today that it has entered into a definitive agreement to purchase Raytek Corporation for approximately $75 million.
The closing of the transaction is subject to certain customary conditions and is expected shortly. Danaher expects the acquisition to be neutral to Danaher’s 2002 earnings per share.
Raytek Corporation, with 2001 revenues exceeding $50 million, will become a part of Danaher’s Electronic Test and Measurement platform.
Raytek produces non-contact infrared thermometers for industrial, maintenance and quality control applications where temperature is a critical parameter.
The company also manufactures hand-held portable infrared thermometers as well as fixed-mount thermometers, line scanners and sensors, and markets its products in over 60 countries globally.
‘Raytek is known as a global leader in portable non-contact infrared tools worldwide, and is an excellent extension of Danaher’s market leadership,’ said H. Lawrence Culp, Jr., President and Chief Executive Officer of Danaher Corporation.