Bruker Inks Share Purchase Agreement To Acquire Molecular Diagnostics Company ELITechGroup; Deal Value €870 M Cash, Excluding Carved Out ELITech Clinical Chemistry Business
Portfolio Pulse from Benzinga Newsdesk
Bruker Corporation (BRKR) has signed a share purchase agreement to acquire ELITechGroup, a molecular diagnostics company, for €870 million in cash, excluding ELITech's Clinical Chemistry business. The deal, disclosed in an 8-K SEC filing on December 26, 2023, follows a put option agreement with the sellers, pending consultations in France and The Netherlands. Bruker anticipates completing the acquisition in Q2 2024. ELITechGroup, minus the clinical chemistry segment, reported revenues of approximately €150 million in 2023.
February 28, 2024 | 12:18 pm
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Bruker Corporation is set to acquire ELITechGroup for €870 million, aiming to complete the transaction in Q2 2024. ELITechGroup's revenue, excluding the clinical chemistry business, was approximately €150 million in 2023.
The acquisition of ELITechGroup by Bruker Corporation is significant due to the substantial deal value of €870 million and the strategic expansion into molecular diagnostics. The deal is expected to close in Q2 2024, indicating a short-term positive outlook for Bruker. The reported revenue of ELITechGroup (excluding the clinical chemistry business) at approximately €150 million in 2023 suggests a strong financial addition to Bruker's portfolio. This acquisition is likely to be viewed positively by investors, potentially leading to an uptick in BRKR's stock price in the short term.
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