Lab-equipment company Thermo Fisher Scientific Inc. on Friday said it reached a deal to acquire microscope-technology maker FEI Co. for $4.2 billion in cash.

The purchase price, at $107.50 a share, represents a 14% premium to FEI's closing price on Thursday. The maker of high-end electron microscopes will join Thermo Fisher's analytical instruments segment.

"In life sciences, there is growing adoption of electron microscopy to study the structure of proteins," said Thermo Fisher Chief Executive Marc Casper. "The technologies we gain with FEI will complement our mass spectrometry leadership," which he said will allow Thermo Fisher to benefit from the trend.

FEI, Hillsboro, Ore., has more than 3,000 employees world-wide with operations primarily in Europe and the U.S. Mr. Casper said the business, which posted $930 million in revenue last year, will immediately add to Thermo Fisher's earnings.

The deal is expected to close by early 2017 and add 30 cents a share to earnings in the first year.

Thermo Fisher in March completed its acquisition of Affymetrix Inc. for $1.3 billion, following the genetics firm's rejection earlier of a higher rival bid submitted by former executives of the company.

Shares of Thermo Fisher were inactive premarket at $151.20, while shares of FEI, which have added 20% over the past three months, were on hold.

Write to Anne Steele at Anne.Steele@wsj.com

 

(END) Dow Jones Newswires

May 27, 2016 08:05 ET (12:05 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
Fei Company (MM) (NASDAQ:FEIC)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Fei Company (MM) Charts.
Fei Company (MM) (NASDAQ:FEIC)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Fei Company (MM) Charts.