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PerkinElmer Buys ArtusLabs

Health and industrial sciences company PerkinElmer Inc. said Thursday that it agreed to buy CambridgeSoft Corp. and that it has bought ArtusLabs.

WALTHAM, Mass. (AP) -- Health and industrial sciences company PerkinElmer Inc. said Thursday that it agreed to buy CambridgeSoft Corp. and that it has bought ArtusLabs.

The cumulative purchase price for the companies, which provide software for the pharmaceutical industry, is about $220 million plus a potential $15 million more through a contingent consideration, PerkinElmer said.

In a statement, PerkinElmer CEO Robert Friel said CambridgeSoft will add "strong customer relationships and excellent organizational capability, along with market leading products in both desktop and enterprise-wide software." ArtusLabs gives PerkinElmer "innovative technology enabling enhanced access to scientific knowledge," he said, that will complement CambridgeSoft's informatics offerings.

PerkinElmer expects the two companies to have combined revenue of $65 million this year. It said the acquisitions will lower its profit by 13 cents per share for 2011, but on an adjusted basis it will add 4 cents per share to its earnings for the rest of the year.

PerkinElmer expects to finish the CambridgeSoft acquisition during the second quarter.
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