Palo Alto, CA-based Varian has acquired certain molecular spectroscopy assets of Digilab for $14 million in cash.
The acquired product lines include Fourier Transform infrared (FT-IR) spectroscopy instruments, FT-IR imaging microscopes, near infrared (NIR) spectroscopy instruments, and Raman spectroscopy instruments.
FT-IR and Raman spectroscopy products have broad application in pharmaceutical and biotechnology research as well as industrial materials research.
The company expects the acquisition of the Digilab product lines to generate at least $15 million of revenue in year one, and to be slightly dilutive to earnings for the first six months and accretive thereafter.
The acquisition is part of Varian’s strategy to strengthen the Company’s product portfolio through the strategic acquisition of complementary products and technologies.