Bruker to Acquire Veeco's Scanning Probe Microscopy (SPM) and Optical Industrial Metrology (OIM) Scientific Instruments Business

Aug. 17, 2010

Bruker Corporation announces the signing of an agreement to acquire the Scanning Probe Microscopy (SPM) and Optical Industrial Metrology (OIM) instruments business from Veeco Instruments for US-$ 229 million in cash. The transaction has been approved by the Boards of Directors of both companies and is expected to close during the fourth quarter of 2010, pending regulatory review and subject to customary closing conditions.
The worldwide SPM and OIM instruments business to be acquired by Bruker from Veeco consists of the industry leading SPM instruments business, headquartered in Santa Barbara, California, and leading OIM product lines developed in Tucson, Arizona, as well as Veeco's associated global SPM/OIM field sales and support organization.
The combined SPM and OIM instruments business is forecasted to contribute revenues of greater than US-$ 130 million, and adjusted operating margins (excluding related acquisition, restructuring, relocation and non-cash intangible amortization expenses) of greater than 15% to Bruker in the year 2011. The Veeco SPM and OIM instruments business in 2009 geographically derived its revenues approximately 38% from Asia-Pacific, 31% from the Americas, and 31% from Europe, and in terms of customer type approximately 45% from applied/industrial customers and 55% from academic/government customers. Bruker estimates that the acquisition will be two to four cents accretive to 2011 GAAP EPS, and six to eight cents accretive to 2011 adjusted EPS.

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Bruker to Acquire Veeco's Scanning Probe Microscopy (SPM) and Optical Industrial Metrology (OIM) Scientific Instruments Business

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