Veeco Instruments has sold its measurements business, which makes atomic force microscopes and optical measuring equipment, to Bruker for $229 million. Bruker makes and markets high-performance scientific instruments and solutions for molecular and materials research. As part of the deal the company gains Veeco's field sales and support organization.
Veeco CEO John Peeler said that while the metorology business is strong, the company has chosen to focus its investments in its LED & Solar and Data Storage Process Equipment businesses. "Veeco Metrology is a great business that is strong, growing and profitable and has many exciting new products. Even so, it lacks meaningful synergies with our Process Equipment businesses in technology, distribution and customers. We believe it will be a better fit as part of a large and successful instrumentation company, such as Bruker, where the focus will be on continued development of innovative scientific instruments," he explained in a statement. In its release, Bruker notes that the acquisition is expected to contribute revenues of at least $130 million annually.
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