Medical instrumentation provider Thermo Electron has purchased Niton of Billerica, MA, a producer of portable nondestructive x-ray analyzers.
According to terms of the deal, Waltham, MA-based Thermo Electron paid $40.5 million in cash, subject to a postclosing adjustment. The x-ray analyzers are aimed at the metals, petrochemical, and environmental markets, producing revenues of $36 million for the firm in 2004.
Niton will become part of the scientific instruments product line of Thermo Electron's Life and Laboratory Sciences segment, the company said.
By AuntMinnie.com staff writers
March 30, 2005
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