Kendro Acquisition Completed
Thermo Electron Corporation has completed its previously announced acquisition of Kendro Laboratory Products, a division of SPX Corporation.
On January 19, 2005, Thermo Electron announced that it had signed a definitive agreement to acquire Kendro for $833.5 million in cash, subject to a post-closing balance sheet adjustment. Kendro is a global leader in sample preparation products and services for life science, material science and drug discovery applications, with 2004 revenues of approximately $370 million.
"As a company, Thermo is focused on providing total laboratory solutions and services to address our customers' needs, and Kendro's technologies nicely complement our existing portfolio of products and services," said Marijn E. Dekkers, president and chief executive officer of Thermo Electron. "The combined company allows us to deliver even greater value to our customers by creating a broader offering of laboratory and sample preparation technologies, as well as enhanced laboratory service capabilities."
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