PerkinElmer Enlarges Software Business
Dusty Tenney, president of Analytical Sciences and Laboratory Services at PerkinElmer, told IBO that CambridgeSoft and ArtusLabs will be integrated into both PerkinElmer’s Analytical Sciences and Laboratory Services businesses. He told IBO that CambridgeSoft’s Professional Services teams complement PerkinElmer’s OneSource Laboratory Services business. He stated that “this allows PerkinElmer to enhance the breadth and quality of services offered to the same customer, building stronger, longer and ultimately more profitable enterprise relationships.” He also told IBO that “this acquisition is part of PerkinElmer’s strategy to strengthen its knowledge-based, enterprise-level solutions to key customers in its core markets, including academia, pharma and petrochemical.” He said CambridgeSoft’s size allows it to support multinational companies’ geographic footprint.
Waltham, MA 3/24/11—PerkinElmer has entered into a definitive agreement to acquire CambridgeSoft and has purchased ArtusLabs. PerkinElmer will pay an initial aggregate cash purchase price of $220 million and potential contingent consideration of up to $15 million for both companies. CambridgeSoft provides discovery, collaboration and knowledge enterprise solutions; scientific databases; and professional services for biotechnology, drug discovery and chemical research. ArtusLabs supplies the Ensemble scientific knowledge platform to integrate disparate data from customers’ electronic laboratory and informatics systems and databases. The companies’ combined revenues for 2011 are expected to be $65 million. “The ability to integrate scientific tools and informatics is becoming increasingly critical for our customers as they look to drive productivity and speed to market,” commented PerkinElmer Chairman and CEO Robert Friel. “CambridgeSoft brings strong customer relationships and excellent organizational capability, along with market-leading products in both desktop and enterprise-wide software. ArtusLabs provides us with innovative technology enabling enhanced access to scientific knowledge and is highly complementary to CambridgeSoft’s informatics solutions.” PerkinElmer anticipates the transactions to be dilutive to 2011 GAAP EPS by $0.13 and, on a non-GAAP basis, to be accretive to adjusted EPS by $0.04 for the balance of 2011.
