Bruker Announces Agreement to Acquire CETR
September 12 2011 - 7:00AM
Business Wire
Bruker Corporation today announced the signing of a purchase
agreement to acquire Center for Tribology, Inc. (CETR) for an
undisclosed amount. CETR, a privately held corporation located in
Silicon Valley in Campbell, CA, is projected to have calendar year
2011 revenue greater than $10 million and EBITDA greater than $2
million. The transaction is expected to close at the end of the
third quarter of 2011, subject to customary closing conditions.
After the closing, Bruker intends to continue to operate CETR in
Silicon Valley and to integrate its business management,
operations, research and development, sales and support with the
Bruker Nano Surfaces division. It is anticipated that CETR will
become a separate Tribology and Indenting business, joining the
current AFM (atomic force microscope) and SOM (stylus and optical
metrology) businesses in the Bruker Nano Surfaces division.
APEX Nano and Micro Indenter(Photo:
Business Wire)
“CETR has been continuously and increasingly successful for
nearly two decades in nanoindenting and microindenting, and in
materials and tribology testing,” said Mark R. Munch, Ph.D.,
President of the Bruker Nano Surfaces division. “We are delighted
to add their synergistic core competencies to our own AFM and
optical metrology expertise. CETR customers are interested in
mechanically testing the structure property relationships as they
relate to tribology and nano-mechanical properties just as Bruker
Nano Surfaces division’s current customers want to use microscopy
and metrology to measure topography, and other surface
properties.”
“CETR has been providing customers a competitive edge with
innovative indenting and tribology testing solutions for over
fifteen years,” remarked Norm V. Gitis, Ph.D., Founder, CEO and
President of CETR. “We are pleased to bring our complete materials
testing product lines to Bruker, whose stellar instrumentation
reputation and worldwide sales and support structure will enable
our technology to reach new regions and markets.”
CETR products can perform multitudes of operations to
characterize nano-, micro- and macro-mechanical and tribological
properties under harsh environmental conditions (high and low
temperatures and humidity, vacuum, gases, etc.), and have become
the de facto standard for multiple industries and basic research
around the world. CETR instruments have been successfully utilized
in numerous academic labs for fundamental materials research and
have been responsible for important breakthroughs in studies of
thin films, as well as in numerous factories and plants for quality
control of ink-jet cartridges, razor blades, industrial oils and
many other industrial, medical and consumer 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. 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.
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