Bruker AXS Buys Majority Stake in Baltic Scientific Instruments, Creates JV

NEW YORK, March 27 - Bruker AXS has acquired a majority interest in Latvian X-ray-detection company Baltic Scientific Instruments, Bruker said today.

The acquisition, which also creates a joint venture between the two companies, was struck to help Bruker "explore additional research and development projects," Bruker said.

Baltic Scientific Instruments' core expertise is in solid-state X-ray detector technology for materials research and elemental composition applications. The firm, whose headquarters is in Riga, has been a supplier to Bruker AXS since 2001, and the company's energy-dispersive X-ray  detector "has helped to fuel growth and differentiation" for Bruker's D8 product line.

As a component of the deal, Bruker CFO for European Operations Bernard Kolodziej was appointed chairman of Baltic Scientific Instruments. "This investment is in line with our strategy to expand our technology portfolio," he said. "We are confident that integrating the technologies developed by Baltic Scientific Instruments and those of Bruker AXS will increase our technology leadership."

Financial terms of the agreement were not disclosed.