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Mar 24, 2011

PerkinElmer Acquires CambridgeSoft and Completes Deal for ArtusLabs

PerkinElmer Acquires CambridgeSoft and Completes Deal for ArtusLabs

The two deals, totaling about $220 million, are designed to expand PerkinElmer's informatics and software offerings. [© Radu Razvan_Fotolia.com]

  • PerkinElmer signed a definitive agreement to acquire CambridgeSoft. The firm also completed its purchase of ArtusLabs. The deals, totaling approximately $220 million, are designed to expand PerkinElmer’s informatics and software offerings. In addition to this initial aggregate cash purchase price, PerkinElmer agreed to pay up to an additional $15 million based on contingencies. CambridgeSoft and ArtusLabs anticipate combined revenues of about $65 million, according to PerkinElmer, which finished 2010 with about $1.7 billion in revenue.

    PerkinElmer says the acquisitions will shrink its 2011 earnings per share by $0.13 on a GAAP basis, due primarily to adjustments related to purchase accounting. On a non-GAAP basis, PerkinElmer expects the deals to add $0.04 per share for the balance of 2011. Last month, PerkinElmer senior vp and CFO Frank Wilson told investors the company estimated it would generate full-year adjusted earnings per share for 2011 of between $1.56 to $1.64, representing growth of 17% to 23% over last year.

    The CambridgeSoft acquisition is expected to close in the second quarter, subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

    “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,” says Robert Friel, PerkinElmer’s CEO and chairman.

    CambridgeSoft provides discovery, collaboration, and knowledge enterprise solutions as well as scientific databases and professional services. CambridgeSoft primarily services the pharmaceutical, biotechnology, and chemical industries.

    ArtusLabs provides Web 2.0 enabled software solutions to the pharmaceutical and related industries. Its flagship product, Ensemble, blends social networking, collaboration, and refined scientific data mining with the purpose of accelerating research and bringing products to market faster.


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