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Bye-Bye PE, Hello Applera

NEW YORK, Nov 28 – It’s official. As of Thursday, PE Corp., the parent company of Applied Biosystems and Celera Genomics, will take on its new name, Applera—a combination of the names of the company's two operating businesses.

The PE Biosystems name change to Applied Biosystems will also become effective on November 30, and its stock symbol on the New York Stock Exchange (NYSE) will change from PEB to ABI at the opening of trading on that date. The NYSE symbol for Celera will remain CRA.

Applera will also have a new Web address, effective November 30.

Tony White, chairman, president, and CEO of the company, said in a statement that the name change symbolizes the company’s intention to capitalize on the synergies of the two groups in pursuing a molecular diagnostics initiative.

The more likely reason for the change, though, is to dissociate the company from the Perkin-Elmer name, which the company dumped together with its analytical instruments division.

Stockholders approved the name changes at the company's annual meeting on October 19.

Applied Biosystems, based in Foster City, Calif., develops and markets instrument-based systems, reagents, software, and contract services to the life science industry and research community. The unit reported sales of $1.4 billion during fiscal 2000.

Celera, based in Rockville, Md., is in the business of genomic databases. The unit reported revenues of $18.3 million in its most recent quarter with a net loss of $25.7 million.
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