Skip to main content
Premium Trial:

Request an Annual Quote

Thermo Electron to Acquire Canadian Robotics Firm

NEW YORK, March 11 - Thermo Electron offered to acquire Canadian software and automated-lab-systems maker CRS Robotics in an all-cash deal worth about C$67 million, or roughly $42 million, CRS said on Monday.

CRS said in a statement that its board will support the C$5.75 per-share, all-cash offer from Thermo Electron.
CRS, of Burlington, Ontario, has expanded its robotics expertise into biotechnology. "CRS innovative automation products complement our existing offerings for the fast-growing drug discovery market and will enable us to provide complete integrated solutions to our customers," Thermo CEO Richard Syron said in a statement.

According to the terms of the proposed acquisition, CRS directors and officers have agreed to tender their shares to the offer. This can be successful if two-thirds of CRS shareholders tender their shares as well.

The agreement also calls for Thermo to receive a $1.4-million termination fee, CRS said in a statement.

Other financial details of the deal were not disclosed.


News of the offer sent shares in Ontario-based CRS soaring 52 percent, or C$1.94, to C$5.69 on the Toronto Stock Exchange mid-morning on Monday. Meanwhile, on the New York Stock Exchange, shares of Waltham, Mass.-based Thermo fell 1.5 percent, or $.32, to $20.63.

The Scan

Study Finds Sorghum Genetic Loci Influencing Composition, Function of Human Gut Microbes

Focusing on microbes found in the human gut microbiome, researchers in Nature Communications identified 10 sorghum loci that appear to influence the microbial taxa or microbial metabolite features.

Treatment Costs May Not Coincide With R&D Investment, Study Suggests

Researchers in JAMA Network Open did not find an association between ultimate treatment costs and investments in a drug when they analyzed available data on 60 approved drugs.

Sleep-Related Variants Show Low Penetrance in Large Population Analysis

A limited number of variants had documented sleep effects in an investigation in PLOS Genetics of 10 genes with reported sleep ties in nearly 192,000 participants in four population studies.

Researchers Develop Polygenic Risk Scores for Dozens of Disease-Related Exposures

With genetic data from two large population cohorts and summary statistics from prior genome-wide association studies, researchers came up with 27 exposure polygenic risk scores in the American Journal of Human Genetics.