PerkinElmer Completes Divestiture of IDS Business
PerkinElmer, Inc. (NYSE: PKI) today announced that it has completed the sale of its Illumination and Detection Solutions business to Excelitas Technologies Corp., an affiliate of Veritas Capital Fund Management, L.L.C., a New York-based private equity firm.
On August 31, 2010, PerkinElmer entered into an agreement to sell the Company's IDS business to Veritas, for approximately $500 million in cash ($482 million net of payment for acquired cash balances).
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.