Market Overview

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).

Posted-In: News M&A

 

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