Männedorf, Switzerland 8/31/16—Tecan has acquired SPEware, a US-based provider of MS sample preparation solutions, for $50 million in cash and an earn-out consideration of up to $10 million. The price values SPEware at approximately 3x fiscal 2016 sales, and the company’s EBITDA margin is higher than Tecan’s. “With SPEware’s current focus on North America, we are excited about the opportunity to leverage Tecan’s global sales and service infrastructure to build on that momentum and further accelerate growth,” stated Tecan CEO Dr. David Martyr. “This transaction follows very much the rationale of our acquisition of IBL International in 2014, which supported our evolution into a solutions business for dedicated applications.” The acquisition is expected to be immediately accretive to EPS before transaction-related amortization. SPEware will join Tecan’s Life Sciences Business.
Tecan stated that more than 70% of SPEware’s sales are of smart consumables. SPEware also offers instruments, such as automation workstations, and modules for LC/MS workflows. According to the company’s website, it specializes in polymeric micro-particulate extraction and positive pressure SPE.