PerkinElmer (NYSE:PKI) said late Tuesday it has agreed to sell its illumination and detection solutions business to Veritas Capital Fund for $500 million in cash.
The unit includes 3,000 employees and 14 manufacturing facilities, making custom-designed specialty lighting and sensor components, subsystems and integrated solutions serving applications within health, environmental, and security segments.
The business is estimated to generated $300 million in revenue in 2010.
PerkinElmer said the transaction will be dilutive to 2011 earnings by $0.08 to $0.10 per share. PerkinElmer competes with companies like Agilent (NYSE:A), Thermo Fisher Scientific (NYSE:TMO), and Waters Corporation (NYSE:WAT), producing scientific services and solutions in the health and environmental fields.
The company said it expects the transaction to close by the end of 2010.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow:
Thursday 5/24 Insider Buying Report: ANF, POL
Thursday 5/24 Insider Buying Report: BBY, RGR
Wednesday 5/23 Insider Buying Report: JBLU, CINF
Daily Market Wrap: May 24, 2012
Tiffany Announces Earnings
Daily Market Wrap: May 23, 2012
Analyst Moves: GDOT, HGSI
Analyst Moves: ACI, ARO
Analyst Moves: SBUX, NDSN
Thursday Sector Leaders: Hospital & Medical Practitioners, Airlines
Thursday Sector Laggards: Computer Peripherals, Semiconductors
Wednesday Sector Leaders: Water Utilities, Apparel Stores
Thursday's ETF with Unusual Volume: HAP
Thursday's ETF Movers: LATM, KWT
EWA, BZQ: Big ETF Outflows
Daily Dividend Report: MNRO, MCD, CTL, MCK, HNZ, POR
Daily Dividend Report: KFT, MRK, C, WRB, DCI
Daily Dividend Report: RL, ESV, HRL, TAP, DSW
Unemployment Rate Falls to 8.1%
Manufacturing Data: April 2, 2012
Inflation, Gasoline Prices Rise
Weekly Market Wrap: May 18, 2012
Weekly Market Wrap: May 11, 2012
Weekly Market Wrap: May 4, 2012
Week Ahead Market Report: May 21, 2012
Week Ahead Market Report: May 14, 2012
Week Ahead Report: May 7, 2012
