December 21, 2010
Caliper Completes CRi Purchase
By Brandon Butler
Hopkinton-based biotech company Caliper Life Sciences has completed its $20-million purchase of Cambridge Research & Instrumentation.
The deal includes $7.9 million in cash, about $1.8 million in assumed debt and about 1.6 million of Caliper common stock, valued at $10.3 million.
CRi makes optical imaging equipment specifically for biomedical researchers. When the purchase was announced earlier this month Caliper officials indicated the move would help the company expand its clinical research, pathology and clinical market customers.
Caliper reported earlier this year that its third quarter revenue fell 8 percent to $29.7 million as it narrowed its loss to $1.3 million from $3.4 million a year earlier.
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