WALTHAM, MA (Sept. 14, 2004) – Thermo Electron Corp., an analytical instruments company, announced it has completed the acquisition of InnaPhase Corp., a supplier of Laboratory Information Management Systems (LIMS) for the pharmaceutical and biotechnology markets, for approximately $65 million in cash, subject to a post-closing adjustment.
Headquartered in Philadelphia, InnaPhase has more than 100 employees and expects revenues of approximately $26 million in 2004. With the acquisition, Thermo extends its position as a provider of LIMS products and services.
InnaPhase’s flagship Watson LIMS is used in drug development laboratories and for bioanalytical applications. InnaPhase’s products will be integrated with Thermo’s informatics product line, which includes SampleManager, a system for large analytical laboratories.