FREMONT, Calif., Apr 01, 2010 (BUSINESS WIRE) --Bruker Corporation (NASDAQ: BRKR) announced today that it has created a Chemical Analysis Division within its Bruker Daltonics subsidiary. The new Chemical Analysis Division will be managed by Collin D'Silva as division president, and will be headquartered in Fremont, California.
As previously reported, Bruker and Agilent Technologies, Inc. entered into a definitive asset purchase agreement on March 9, 2010, pursuant to which Bruker will acquire certain product lines of Varian, Inc., which Agilent has committed to divest in connection with obtaining regulatory approval for Agilent's previously announced acquisition of Varian. The Varian product lines to be acquired will become part of the Bruker Chemical Analysis Division, and include ICP-MS systems, laboratory gas chromatography (GC) instruments and GC-triple-quadrupole mass spectrometers.
Collin D'Silva, President of the Bruker Chemical Analyis Division, commented: "We are looking forward to the closing of the Bruker-Agilent transaction, and to welcoming the management teams who are now running the present Varian Lab GC, GC-QQQ-MS and ICP-MS businesses to Bruker's Chemical Analysis Division. Most importantly, we look forward to welcoming the customers of these three product lines, and we are committed to providing the highest level of applications and service support, as well as accelerated applications and product development, to this valued customer base."
Frank Laukien, President and CEO of Bruker Corporation, stated: "These three businesses offer an opportunity to leverage our existing strengths in the analytical instruments market. The three new product lines will form the core offerings of our new Chemical Analysis Division, and we are delighted that Collin has agreed to lead this division with the many talented and highly motivated managers and employees who are expected to join this Chemical Analysis Division from Varian in the next few weeks."
Mr. D'Silva served as Chief Executive Officer of Transgenomic, Inc., a public life sciences instruments company, from 1997 until April 2006. Previously, Mr. D'Silva was founder, President and Chief Executive Officer of CETAC Technologies, Inc, a company designing instrumentation for elemental analysis. Prior to CETAC, Mr. D'Silva held various senior management positions with AT&T Network Systems, including the position of business unit manager of a $350 million annual revenue division. Mr. D'Silva holds a B.S. degree and a Masters in Industrial Engineering from Iowa State University, as well as an M.B.A. from Creighton University.
Mr. D'Silva has been a director of Bruker Corporation since 2000. In order to assume his new responsibilities as division president of the Chemical Analysis Division, Mr. D'Silva stepped down from Bruker's Audit Committee on March 9, 2010, and Mr. D'Silva also has resigned from Bruker's Board of Directors as of March 31, 2010. As a result, the Bruker Board and Audit Committee temporarily are not in compliance with all NASDAQ listing requirements. Bruker has informed NASDAQ accordingly, and Bruker intends to regain compliance within the applicable 180-day cure period.
About Bruker Corporation
Bruker Corporation is a leading provider of high-performance scientific instruments and solutions for molecular and materials research, as well as for industrial and applied analysis. For more information about Bruker Corporation, please visit www.bruker.com.
CAUTIONARY STATEMENT
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, which include, but are not limited to, our expectations for the timing of the closing of the Agilent-Bruker transaction, are based on current expectations, but are subject to risks and uncertainties, that could cause actual future results to differ materially from those projected. These include, but are not limited to, the receipt of final regulatory approvals, satisfaction of other closing conditions, and such other risks as identified in Bruker's annual report on Form 10-K for the year ended December 31, 2009 and its most recent quarterly reports on Form 10-Q and current reports on Form 8-K. Bruker does not assume any obligation to update these forward-looking statements other than as required by law.
SOURCE: Bruker Corporation
Bruker Corporation
Stacey Desrochers, +1 978-663-3660, ext. 1115
Director of Investor Relations
stacey.desrochers@bruker.com