PerkinElmer Sells IRAS
Boston, MA and Paoli, PA – PerkinElmer has sold its Instruments for Research and Applied Science (IRAS) product line to AMETEK and its Voltarc Technologies business to Innovative Technologies Group for a total of approximately $85 million. AMETEK stated that it paid approximately $63 million in cash for IRAS, which manufactures and markets nuclear spectroscopy and research electrochemistry instruments, including the ORTEC, Princeton Applied Research and Signal Recovery brands. In 2001, IRAS posted sales of around $50 million. AMETEK stated that IRAS will increase its sales of instruments for physical properties measurement, environmental monitoring and chemical weapon detection, and that IRAS will change its name to Advanced Measurement Technology and go by the Signal Recovery brand. Voltarc Technologies, a specialty lighting company, has sales of around $30 million.