Varian, Inc. has announced that it has taken a significant step toward expanding its information rich detection (IRD) portfolio by acquiring Fourier Transform mass spectrometry (FTMS) technology through its acquisition of Southern California-based IonSpec Corporation.
The acquisition will increase the company's participation in life science applications, in particular in the study of proteins, nucleic acids and drug metabolites.
The initial cash purchase price is approximately $16 million, including the pay down of assumed debt. The transaction also includes an opportunity for an additional purchase price payment if FTMS products reach specified financial targets over a three-year period.
FTMS instruments are used in laboratories around the world to discover the function and structural characterization of proteins and other biomolecules in various biological systems.
This information provides scientists with fundamental knowledge of how cells work and how diseases evolve, leading to new diagnostic research and new drug targets.
"We are particularly excited about acquiring this technology because it will accelerate Varian's information rich detection product drive into life sciences research around the world," said Garry W. Rogerson, President and CEO, Varian, Inc.
"Additionally, FTMS technology complements our already strong range of nuclear magnetic resonance (NMR) products and by folding them into our portfolio, we'll be able to better meet the needs and requirements demanded by many of our global customers."