Scientific instruments maker Bruker Corp. has agreed to acquire a portion of the business of Veeco Instruments Inc. for $229 million in cash.
The Billerica, Mass., company said Monday it will buy the Scanning Probe Microscopy and Optical Industrial Metrology instruments business in a deal it expects to close in the fourth quarter.
The boards of directors for both companies have approved the deal.
Bruker estimates the deal will add 6 to 8 cents to its adjusted earnings per share next year. It forecasts the combined business to contribute more than $130 million in 2011 revenue.
Bruker shares rose 55 cents, or 4 percent, to $13.58 in Monday morning trading. Shares of Veeco, which is based in Plainview, N.Y., climbed $1.46, or 4.7 percent, to $32.75.