6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Danaher Corporation, Washington, signed a definitive agreement to purchase LEM Instruments, a division of Swiss based LEM Group for approximately $57 million in cash including transaction costs and net of cash acquired. With primary operations in the United Kingdom and Austria, LEM Instruments produces and sells a comprehensive array of electrical measurement solutions used in both commercial and industrial applications. The business generated fiscal 2004 revenues of approximately $45 million and will become a part of Danaher's Electronic Test platform. The company expects minimal accretion in 2005. The acquisition remains subject to regulatory approval and other customary closing conditions and is expected to close in the first quarter of 2005.