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Business
PerkinElmer Sells Lighting Business
by Marc S. Reisch
September 13, 2010
| A version of this story appeared in
Volume 88, Issue 37
PerkinElmer has reached an agreement to sell its illumination and detection solutions business to private equity firm Veritas Capital for $500 million in cash. The business, which provides xenon lighting and light-emitting diodes for analytical instruments, medical equipment, and dental applications, has 3,000 employees and expects sales of $300 million this year. PerkinElmer says the sale, which is expected to close by the end of 2010, will free up capital for its core analytical instruments business.
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