Danaher Corporation announced today that it has signed a definitive agreement to purchase Germany’s Leica Microsystems for $550 million.
Danaher Corporation announced today that it has signed a definitive agreement to purchase Leica Microsystems from LM Investments for $550 million.
Headquartered in Wetzlar, Germany, Leica Microsystems designs and produces high-precision optical systems for the analysis of microstructures. It is a market leader in microscopy, pathology diagnostics, surgical microscopes as well as semiconductor wafer defect and inspection solutions and specialised electron-beam lithography systems.
The company, which had revenues of approximately $660 million in 2004, is represented in over 100 countries with 10 manufacturing facilities located in Europe, China and Singapore.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close in the third quarter. Danaher expects minimal earnings per share accretion in 2005. Earnings per share accretion in 2006 is expected to be approximately $0.03.