Bruker Corporation : Bruker Completes Acquisition of Center for Tribology, Inc.
10/13/2011| 07:05am US/Eastern
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Bruker Corporation today announced the closing of its acquisition of
Center for Tribology, Inc. (CETR) for $13 million in cash as an initial
purchase price, with potential additional earn-out payments of up to $4
million in cash, depending on growth and profitability of the
CETR-business within Bruker in 2012 and 2013. CETR, a privately held
tribology and mechanical testing company headquartered in Campbell, CA,
with 30 employees, has now become a part of the Bruker Nano Surfaces
division, joining the current AFM (atomic force microscope) and SOM
(stylus and optical metrology) businesses. Dr. Norm Gitis, the founder
and CEO of CETR, has joined Bruker as Vice President and General Manager
of the new Bruker Tribology & Mechanical Testing (TMT) business.
Frank Laukien, President and CEO of Bruker Corporation, stated: "We are
very excited about the addition of CETR's highly regarded tribology,
mechanical testing and nano-indenting expertise and product lines. With
these additional industry-leading systems, Bruker is continuing its
commitment to provide the world's most innovative selection of
high-performance, applications-enabling instrumentation. We cordially
welcome Dr. Gitis and our new colleagues."
"Our current customers are interested in materials structure and
mechanical property relationships, and with nearly a 50% overlap between
CETR's customers and our own, we are delighted to add CETR technology to
our common offering," said Mark R. Munch, Ph.D., President of the Bruker
Nano Surfaces division. "I am confident that the synergistic combination
of CETR core competencies with our own AFM, optical and stylus
instrumentation expertise will increase our market penetration while
enabling our global customers to continually advance their research and
products."
About CETR
CETR was founded in 1993 to offer testing and consulting services to
high-tech companies. Within a year, CETR started developing and
manufacturing its own test equipment, and now is a worldwide leader in
nano-mechanical and tribological test instrumentation, serving both
basic materials research and industrial manufacturing in a wide range of
fields, including the biomedical, petroleum, microelectronics, energy,
and automotive markets. CETR, a privately held corporation located in
Silicon Valley in Campbell, CA, was projected to have calendar year 2011
revenue greater than $10 million and EBITDA greater than $2 million. For
more information about CETR, please visit www.cetr.com.
About Bruker Corporation
Bruker Corporation (NASDAQ: BRKR) is a leading global manufacturer of
scientific instruments that address the needs of a diverse array of
research and production customers in materials, chemical analysis, life
science and pharmaceutical, biotechnology and molecular diagnostics
research. For more information about Bruker Corporation, please visit www.bruker.com.
BRUKER CAUTIONARY STATEMENT
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995. Any
forward-looking statements contained herein are based on current
expectations, but are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including, but not limited to, risks and uncertainties relating to
adverse changes in conditions in the global economy and volatility in
the capital markets, the integration of businesses we have acquired or
may acquire in the future, changing technologies, product development
and market acceptance of our products, the cost and pricing of our
products, manufacturing, competition, dependence on collaborative
partners and key suppliers, capital spending and government funding
policies, changes in governmental regulations, realization of
anticipated benefits from economic stimulus programs, intellectual
property rights, litigation, and exposure to foreign currency
fluctuations and other risk factors discussed from time to time in our
filings with the Securities and Exchange Commission. These and other
factors are identified and described in more detail in our filings with
the SEC, including, without limitation, our annual report on Form 10-K
for the year ended December 31, 2010, our most recent quarterly reports
on Form 10-Q and our current reports on Form 8-K. We expressly disclaim
any intent or obligation to update these forward-looking statements
other than as required by law.
Bruker Director of Investor Relations
Stacey Desrochers,
+1-978-663-3660, ext. 1115
stacey.desrochers@bruker.com
© Business Wire 2011
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