Bruker Corporation has completed its acquisition of Center for Tribology, Inc. (CETR) for $13 million in cash as an initial purchase price, with potential additional earn-out payments of up to $4 million in cash, depending on growth and profitability of the CETR-business within Bruker in 2012 and 2013.(Earlier post.)
CETR, a privately held tribology and mechanical testing company headquartered in Campbell, CA, with 30 employees, has now become a part of the Bruker Nano Surfaces division, joining the current AFM (atomic force microscope) and SOM (stylus and optical metrology) businesses. Dr. Norm Gitis, the founder and CEO of CETR, has joined Bruker as Vice President and General Manager of the new Bruker Tribology & Mechanical Testing (TMT) business.
CETR was founded in 1993 to offer testing and consulting services to high-tech companies. Within a year, CETR started developing and manufacturing its own test equipment, and now is a worldwide leader in nano-mechanical and tribological test instrumentation, serving both basic materials research and industrial manufacturing in a wide range of fields, including the biomedical, petroleum, microelectronics, energy, and automotive markets.
CETR, a privately held corporation located in Silicon Valley in Campbell, CA, was projected to have calendar year 2011 revenue greater than $10 million and EBITDA greater than $2 million.
Bruker Corporation is a leading global manufacturer of scientific instruments that address the needs of a diverse array of research and production customers in materials, chemical analysis, life science and pharmaceutical, biotechnology and molecular diagnostics research.