Thermo Fisher Scientific Inc. (NYSE: TMO) has agreed to acquire Ahura Scientific Inc., a Wilmington, Mass.-based developer of optical systems for the detection of unknown and suspect substances. The deal is valued at $145 million in cash, plus an undisclosed amount of earnouts based on 2010 financial milestones. Ahura Scientific has raised nearly $30 million, from firms like ARCH Venture Partners, Castile Ventures, Fuse Capital (fka ComVentures) and GF Private Equity.
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced today that it has signed a definitive agreement to acquire Ahura Scientific, a leader in field-deployed analytical instruments for human health and public safety, for $145 million in cash plus the potential for an earn-out payment based on the achievement of certain 2010 financial targets. Ahura Scientific’s products expand Thermo Fisher’s portfolio of portable analytical devices designed to provide customers with the ability to rapidly identify and authenticate a range of molecular and elemental substances in the field. Based in Wilmington, Mass., Ahura Scientific has approximately 120 employees and generated full-year revenue of approximately $45 million in 2009.
Ahura Scientific specializes in the identification of chemicals for safety, security and pharmaceutical applications. The company’s rugged, miniaturized Raman and FT-IR (Fourier-transform infrared) spectroscopy instruments are used worldwide by military and civilian first responders, major pharmaceutical manufacturers and consumer health organizations. Ahura Scientific products complement the Thermo Scientific line of portable XRF (X-ray fluorescence) elemental analyzers, which are designed for rapid on-site testing of materials for numerous applications, including metal and alloy analysis, quality assurance and control, consumer product safety and environmental analysis.
“The acquisition of Ahura Scientific further enhances our position in handheld analyzers and strengthens our Thermo Scientific brand by expanding the breadth of our portfolio with complementary technologies,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “It also provides the ability to leverage our commercial channel, product development expertise, and software over multiple laboratory and portable instrument platforms. This combination brings together both companies’ leading technologies for portable chemical and elemental analysis, allowing us to create a powerful tool set for our customers that enables laboratory-quality analysis in the field.”
Doug Kahn, chairman and chief executive officer of Ahura Scientific, said, “The entire Ahura Scientific team is excited to be joining the Thermo Fisher organization. The complementary products and mission make this an ideal and logical strategic fit for both companies.”
The transaction, which is expected to close during the first quarter of 2010, is subject to applicable regulatory approvals and a customary post-closing purchase price adjustment. Ahura Scientific will be integrated into Thermo Fisher’s Analytical Technologies Segment. The company does not expect this transaction to have a material impact on its 2010 financial results.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With 2008 revenues of $10.5 billion, we have approximately 35,000 employees and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike. Visit www.thermofisher.com.
About Ahura Scientific, Inc.
Ahura Scientific is dedicated to bringing lab-accurate analysis directly to the point of need. The company’s field-deployed analytical instruments consistently deliver precise and actionable intelligence to human health and public safety specialists. Ahura Scientific has been backed by leading venture capital firms, including Fuse Capital, Castile Ventures and ARCH Venture Partners. Castile Ventures, serving as lead investor, worked with the founding team to establish the company around their far-reaching vision and has been instrumental in supporting and guiding the company as it addressed critical customer needs. The company’s FirstDefender(®), TruDefender™ FT, TruDefender FTG, TruScan™ and TruScreen™ are deployed worldwide in the homeland security, public safety, pharmaceutical, industrial and medical markets. Founded in 2002, Ahura Scientific is headquartered in Wilmington, Mass. For more information, visit www.ahurascientific.com.