European designer and manufacturer of custom LED assemblies for biomedical and industrial applications joins the US-based conglomerate
PerkinElmer has announced the acquisition of Elcos, a European designer and manufacturer of custom LED (light emitting diode) assemblies for biomedical and industrial applications.
The transaction combines Elcos's visible LED technology platform and strong customer and application base with PerkinElmer's global sales, application and support organisation, and will provide significantly greater growth opportunities for the Elcos technology says PerkinElmer.
"Elcos has a successful track record of delivering high performance LEDs to premier OEMs with the majority of their revenue in biomedical instrumentation," said John Roush, president, PerkinElmer Optoelectronics.
"By bringing PerkinElmer and Elcos together we expand our offering of technology for new and existing customers." Specialty LED products are well-suited for a variety of applications, including blood glucose monitoring and patient monitoring systems, as well as a number of industrial applications.
"We have always respected PerkinElmer's unique ability to combine technology expertise, operational excellence and an intimate understanding of customers' needs in order to deliver customised total sales.
"We strongly believe they are the right partner to take Elcos to the next level of success," said Joachim Sieg, founder and CEO of Elcos, who will stay on as a consultant after the acquisition is completed.
Based in Pfaffenhofen, Germany, Elcos had 2004 revenues of US$11.3 million with over 60% coming from health sciences applications, including blood glucose monitoring and pulse oximetry.
PerkinElmer paid US$15 million cash and the potential for earn out payments based on the future performance of the business.
