03 February 2014 | News | By BioSpectrum Bureau
Pall to acquire Atmi for $185 million
Singapore: Pall Corporation, a developer of filtration, separation and purification technology, has decided to acquire Atmi LifeSciences, a technology company in the field of single-use bioprocess systems and consumables for the pharmaceutical and biopharmaceutical industries business, for $185 million.
The transaction, which is expected to close in Pall's fiscal third quarter, is subject to certain closing conditions, regulatory approvals and labor-related notifications.
"This acquisition immediately strengthens our offering and broadens our already extensive portfolio of advanced solutions for biopharmaceutical customers," said Mr Larry Kingsley, chairman and CEO, Pall.
Mr Doug Neugold, CEO, Atmi, "We are very happy to have Pall as the new owner of this business, and believe the fit and their capabilities will accelerate its growth and provide great support to our customers."
For the balance of fiscal 2014, Pall expects the acquisition to add $20-to-$30 million in revenue.