PerkinElmer Inc. (PKI) signed a definitive agreement to acquire
software and database company CambridgeSoft Corp. and completed its
purchase of software firm ArtusLabs Inc., deals together valued at
$220 million.
The acquisitions carry an added contingent payment of up to $15
million. The deals are expected to boost PerkinElmer's adjusted
earnings for the rest of the year by about 4 cents a share.
PerkinElmer, which sells analytical products and services to the
health-care and industrial sectors, has seen strong revenue growth
lately, helped by its environmental health division. Revenue also
has increased in its human-health division. Last month, it reported
its fourth-quarter earnings soared as it booked a $315.3 million
gain on the disposition of discontinued operations.
For 2011, CambridgeSoft and ArtusLabs together expect revenue of
about $65 million. The deal for CambridgeSoft is expected to close
in the second quarter.
CambridgeSoft offers desktop software and scientific databases,
among other things, to the pharmaceutical, biotechnology and
chemical industries, while ArtusLabs' flagship product, Ensemble,
blends social networking and data mining.
PerkinElmer shares recently rose 0.7% to $26 premarket. The
stock is up 7.7% in the past 52 weeks.
-By Lauren Pollock, Dow Jones Newswires; 212-416-2356;
lauren.pollock@dowjones.com