Advertisement

Health and industrial sciences company PerkinElmer Inc. said Thursday it has agreed to buy Caliper Life Sciences Inc., which makes technologies used for drug development, for about $600 million in cash.

PerkinElmer said the deal will expand its product portfolio to include broader offerings for molecular, cellular, animal and tissue imaging. It also will include platform technology additions to help expand into areas like environmental contaminants and food pathogen detection,

PerkinElmer, based in Waltham, Mass., said it will pay $10.50 per share for Hopkinton, Mass.-based Caliper. That was a 42 percent premium to Caliper's closing price of $7.39 closing price on Wednesday.

Caliper shares climbed $3.04, or 41 percent, $10.43 in morning trading Thursday. Perkin-Elmer shares fell 37 cents, or 1.7 percent, to $21.68.

Advertisement
Advertisement