Bruker Completes Acquisition of Center for Tribology, Inc.
October 13 2011 - 7:00AM
Business Wire
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.
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