MKS Instruments, Inc., a global provider of technologies that enable advanced processes and improve productivity, announces the acquisition of Precisive, LLC, for $13 million in an all-cash transaction that closed yesterday.
Precisive is an innovative developer of optical analyzers based on Tunable Filter Spectroscopy (TFS) which provide real-time gas analysis in the natural gas and hydrocarbon processing industries, including refineries, hydrocarbon processing plants, gas-to-power machines, biogas processes and fuel gas transportation and metering, while delivering customers a substantially lower total cost of ownership. The Precisive TFS sensor platform has been on the market since 2008 with more than 2500 systems deployed.
"This acquisition is another step in executing our growth strategy," commented Gerald G. Colella, Chief Executive Officer and President of MKS Instruments. "We have previously said we are looking for opportunities to invest in growing our business in process and environmental markets and this is the first step in a multi-phased approach to execute on that strategy. Precisive presented a world-class technology that complements our existing Fourier Transform Infrared Spectroscopy (FTIR) based gas analysis systems and opens up additional opportunities in the energy market for MKS across multiple product lines. MKS is a financially strong company with a global infrastructure spanning three continents. We will leverage these strengths to continue to grow this business and expand its product offerings."
Dr. Vidi Saptari, founder of Precisive, said, "We are excited to be joining a well-established, global technology leader and helping to advance MKS' efforts to grow into the natural gas and process industries. Since 2007, we have worked closely with leaders in the industry to develop a product that lowers cost of instrumentation and truly meets – and exceeds – their analytical and harsh operational requirements. We believe our customers and channel partners will be enthusiastic about the additional resources and infrastructure we will have access to as a part of MKS."
Source: http://www.mksinst.com