Thermo Electron Acquires InnaPhase Corporation

Thermo Electron Corporation, the world leader in analytical instruments, announced it has completed the acquisition of InnaPhase Corporation, a premier 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 over 100 employees and expects revenues of approximately $26 million in 2004. With this acquisition, Thermo extends its position as the largest provider of LIMS products and services in the world.

InnaPhase’s flagship Watson(TM) LIMS is the leading product in drug development laboratories and the industry standard for bioanalytical applications. InnaPhase’s products will be integrated with Thermo’s informatics product line, which includes SampleManager(TM), the leading LIMS for large analytical laboratories.

“The InnaPhase team brings deep industry expertise and world-class software development capabilities,” commented Marijn E. Dekkers, Ph.D., president and CEO of Thermo Electron Corporation. “The addition of InnaPhase’s pharmaceutical LIMS technology broadens and strengthens the array of solutions that Thermo is able to provide its customers in key applications such as proteomics and ADME/TOX. As customers continue to standardize on informatics products and vendors, Thermo is strategically positioned to offer a broad
portfolio of integrated solutions with the industry expertise and resources required for successful implementations.”    

“Bringing together the proven, innovative products and the industry knowledge represented by people from both organizations — along with Thermo’s best-in-class instrument, equipment and service capabilities — will allow us to provide a breadth of solutions for our customers that is unequaled in the industry,” commented Jo Webber, Ph.D., former CEO of InnaPhase. She has been newly appointed to general manager of Thermo’s informatics business.

About Thermo Electron
Thermo Electron Corporation is the world leader in analytical instruments. Our instrument solutions enable our customers to make the world a healthier, cleaner and safer place. Thermo’s Life and Laboratory Sciences business provides analytical instruments, scientific equipment, services and software solutions for life science, drug discovery, clinical, environmental and industrial laboratories. Thermo’s Measurement and Control business is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications, including those associated with safety and homeland security. Based near Boston, Massachusetts, Thermo has revenues of more than $2 billion, and employs approximately 10,000 people in 30 countries. For more information, visit http://www.thermo.com .