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Dealipedia - Danaher acquires Accu-Sort Systems

Danaher acquires Accu-Sort Systems for $63 million

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Acquiring Company: Danaher View Profile Add Homepage Google Search
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Target Company: Accu-Sort Systems View Profile Charts Homepage
Deal Financials:
Price: $63 million
 
Date:
Announced: Oct 16, 2003

PRESS RELEASE

Danaher Corporation Agrees to Acquire Accu-Sort Systems, Inc.
Thursday October 16, 6:59 am ET

WASHINGTON, Oct. 16 /PRNewswire-FirstCall/ -- Danaher Corporation (NYSE: DHR - News) announced today that it has signed a definitive agreement to purchase Accu-Sort Systems, Inc. for approximately $63 million in cash on a debt free basis, plus an earn-out based on certain performance conditions payable in the future. The acquisition remains subject to regulatory approval and other customary closing conditions.

Accu-Sort, a Telford, Pennsylvania company with approximately $90 million in revenues, is a leading manufacturer and marketer of stationary scanners used most commonly in manufacturing, distribution and sortation applications. First-year Danaher EPS accretion is expected to be minimal.

"Accu-Sort broadens Danaher's footprint in the Product Identification space from marking and coding to include scanning, inspection and reading," commented H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer. "The pending acquisition of Accu-Sort, less than a year after our Willett acquisition, and less than two years after our Videojet acquisition, demonstrates our commitment to the Product Identification market and positions us to grow one of our key strategic platforms. It also enables us to expand our served market and provides us with attractive new segments and opportunities. As always, we are excited about the value we believe the Danaher Business System can bring to this business."

Danaher Corporation is a leading manufacturer of Process/Environmental Controls and Tools and Components. (www.danaher.com)

Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include risks and uncertainties relating to customer and supplier relationships and prices, competition, market demand, litigation and other contingent liabilities, the integration and operation of acquired businesses, and economic, political, governmental and technological factors affecting the Company's operations, markets, products, services and prices, among others, as set forth in the Company's SEC filings.

CONTACT: Andy Wilson
VP Investor Relations
(202) 828-0850

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Dec 06 '07
This version submitted by SamBartolone

 

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