Bruker Announces Agreement to Acquire CETR
Bruker Nano Surfaces Division to Add Synergistic Tribology and Indenting Equipment Business.
- Tucson, AZ (1888PressRelease) September 15, 2011 - Bruker Corporation today announced the signing of a purchase agreement to acquire Center for Tribology, Inc. (CETR) for an undisclosed amount. CETR, a privately held corporation located in Silicon Valley in Campbell, CA, is projected to have calendar year 2011 revenue greater than $10 million and EBITDA greater than $2 million. The transaction is expected to close at the end of the third quarter of 2011, subject to customary closing conditions. After the closing, Bruker intends to continue to operate CETR in Silicon Valley and to integrate its business management, operations, research and development, sales and support with the Bruker Nano Surfaces division. It is anticipated that CETR will become a separate Tribology and Indenting business, joining the current AFM (atomic force microscope) and SOM (stylus and optical metrology) businesses in the Bruker Nano Surfaces division.
"CETR has been continuously and increasingly successful for nearly two decades in nanoindenting and microindenting, and in materials and tribology testing," said Mark R. Munch, Ph.D., President of the Bruker Nano Surfaces division. "We are delighted to add their synergistic core competencies to our own AFM and optical metrology expertise. CETR customers are interested in mechanically testing the structure property relationships as they relate to tribology and nano-mechanical properties just as Bruker Nano Surfaces division's current customers want to use microscopy and metrology to measure topography, and other surface properties."
"CETR has been providing customers a competitive edge with innovative indenting and tribology testing solutions for over fifteen years," remarked Norm V. Gitis, Ph.D., Founder, CEO and President of CETR. "We are pleased to bring our complete materials testing product lines to Bruker, whose stellar instrumentation reputation and worldwide sales and support structure will enable our technology to reach new regions and markets."
CETR products can perform multitudes of operations to characterize nano-, micro- and macro-mechanical and tribological properties under harsh environmental conditions (high and low temperatures and humidity, vacuum, gases, etc.), and have become the de facto standard for multiple industries and basic research around the world. CETR instruments have been successfully utilized in numerous academic labs for fundamental materials research and have been responsible for important breakthroughs in studies of thin films, as well as in numerous factories and plants for quality control of ink-jet cartridges, razor blades, industrial oils and many other industrial, medical and consumer products.
About CETR
CETR was founded in 1993 to offer testing and consulting services to high-tech companies. Within a year, CETR started developing and manufacturing its own test equipment, and now is a worldwide leader in nano-mechanical and tribological test instrumentation, serving both basic materials research and industrial manufacturing in a wide range of fields, including the biomedical, petroleum, microelectronics, energy, and automotive markets. For more information about CETR, please visit www.cetr.com.
About Bruker Corporation
Bruker Corporation (NASDAQ: BRKR) is a leading global manufacturer of scientific instruments that address the needs of a diverse array of research and production customers in materials, chemical analysis, life science and pharmaceutical, biotechnology and molecular diagnostics research. For more information about Bruker Corporation, please visit www.bruker.com.
BRUKER CAUTIONARY STATEMENT
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including, but not limited to, risks and uncertainties relating to adverse changes in conditions in the global economy and volatility in the capital markets, the integration of businesses we have acquired or may acquire in the future, changing technologies, product development and market acceptance of our products, the cost and pricing of our products, manufacturing, competition, dependence on collaborative partners and key suppliers, capital spending and government funding policies, changes in governmental regulations, realization of anticipated benefits from economic stimulus programs, intellectual property rights, litigation, and exposure to foreign currency fluctuations and other risk factors discussed from time to time in our filings with the Securities and Exchange Commission. These and other factors are identified and described in more detail in our filings with the SEC, including, without limitation, our annual report on Form 10-K for the year ended December 31, 2010, our most recent quarterly reports on Form 10-Q and our current reports on Form 8-K. We expressly disclaim any intent or obligation to update these forward-looking statements other than as required by law.
Media Contact:
Stephen Hopkins, Marketing Communications
Bruker Nano Surfaces Division
2650 E. Elvira Rd., Tucson, AZ 85756
T: +1 (520) 741-1044 x1022
E: steve.hopkins ( @ ) bruker-nano dot com
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