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Bruker BioSciences to Acquire Bruker BioSpin for $914M

NEW YORK (GenomeWeb News) – Bruker BioSciences announced today that it will acquire its privately held Bruker BioSpin affiliate for $914 million in cash and stock.
Bruker BioSpin develops and manufactures life science and analytical research instruments based on its magnetic resonance core technology. The firm is 100 percent-owned by members of the Laukien family, who also own 52 percent of publicly traded Bruker BioSciences.
Following completion of the deal, which is expected early next year, the combined firm will be renamed Bruker Corporation and 60 percent of its shares will be held by the Laukien family. The company will sell complementary instruments and systems including mass spectrometry, magnetic resonance, x-ray analysis, elemental analysis, and molecular spectroscopy for molecular and materials research, as well as industrial and applied analysis.
Bill Linton, lead director of Bruker BioSciences and chairman of its special committee of independent directors, said in a statement, “The combined company will considerably increase and diversify its market presence, technology base, product lines, global distribution, and customer support capabilities.”
Bruker BioSpin had 2006 revenues of $447 million and net income of $56.6 million. The combined firm expects to have 2007 pro forma revenue of more than $900 million.
Bruker BioSciences will acquire the US and German companies in the Bruker BioSpin Group for $388 million in cash. It will acquire the Swiss Bruker BioSpin holding company and its subsidiaries for roughly 57.5 million shares of Bruker BioSciences valued at a total of around $526 million.
Bruker BioSpin’s shareholders and board of directors have already approved the acquisition, while Bruker BioSciences’ shareholders will vote on the deal in the first quarter of 2008.