Waters Corp. To Buy Wyatt For $1.36 Bln In Cash

(RTTNews) - Waters Corporation (WAT), a specialty measurement company on Wednesday said it has entered into an agreement to acquire Wyatt Technology for $1.36 billion to be paid in cash, with certain adjustments.

Wyatt Technology, that makes instrumentation for the characterization of nanoparticles and macromolecules, had revenue of about $110 million in 2022.

The acquisition, expected to close in the second quarter, will add to Waters' revenue as well earnings immediately, the company said.

Wyatt has a three-year compound annual growth rate of 20%, which is expected to grow low-teens over the near-to mid-term.

The target company is expected to add more than $70 million in annual revenue by the fifth year following the close of the deal.

Waters also forecasts that the deal will add to the adjusted earnings per share beginning the first quarter of 2024.