Thermo Fisher Scientific Inc. says it will buy laboratory equipment maker Dionex Corp. for $2.1 billion.
The Waltham, Massachusetts-based scientific instrument maker says the deal will expand its business in the Asia-Pacific region and help it do more business in industries such as environmental analysis and food safety.
It says the deal will close in the first quarter of 2011 and raise its profit by 13 cents to 15 cents per share over the first year after closing.
Thermo Fisher is paying a $118.50 a share, a 20.7 percent premium over Friday's Dionex closing price.
The boards of both companies have approved the deal.
Dionex is based in Sunnyvale, California, and has 1,600 employees in 21 countries.