Thermo Electron Acquire InnaPhase

Thermo Electron Corporation have announced it has completed the acquisition of InnaPhase Corporation, a leading 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™ 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™, the leading LIMS for large analytical laboratories.