Bruker has announced an agreement with Veeco Instruments for acquisition of the latter’s Optical Industrial Metrology (OIM) and the Scanning Probe Microscopy (SPM) instruments business.
The instruments business comprises the OIM products developed in Tucson, Arizona, and the OIM/SPM field sales and support organization of Veeco; and SPM products business based in Santa Barbara, California.
Bruker expects the OIM and SPM instruments business to generate more than $130 million revenues, with over 15% of adjusted operating margins in 2011. The company anticipates the acquisition to be accretive to its adjusted EPS by 6 – 8 cents, and to its GAAP EPS by 2 – 4 cents, in 2011.
After the acquisition, Bruker plans to continue its OIM and SPM instruments business operation in Arizona and California. It also anticipates retaining most of the current OIM and SPM business operations, sales and marketing, R&D, service personnel, and global applications. Then the company will combine the global sales and support staff of the SPM and OIM divisions with its applications laboratories, service centers, and country sales offices globally.