A Medical Device Daily

Herley Industries (Lancaster, Pennsylvania) reported that it has acquired Eyal Microwave Industries (EMI; Eyal, Israel) a privately held Israeli company in an all cash transaction. Eyal Microwave Industries is a leading supplier of a broad range of RF, microwave and millimeter wave components and customized subsystems, for the global defense industry.

Based in Kibbutz Eyal, the company has approximately 175 employees. EMI includes Eyal Microwave Ltd. and its subsidiary Eyal Mag. Herley Industries will acquire EMI through its own subsidiary in Israel, General Microwave Israel (GMIC; Jerusalem, Israel).

Myron Levy, Herley's chairman/CEO, said, "EMI is an excellent fit with Herley. Their core capabilities include complex integrated microwave assemblies and "off-the-shelf" components for radar, ESM, ECM and communication systems which will complement and expand our current product line. Our most formidable competitor in Israel, EMI has customers and programs that will further strengthen our already solid presence in the international marketplace."

Levy continued, "As we have previously reported, GMIC, as a stand-alone, is the most profitable subsidiary within Herley. When combined, GMIC and Eyal will have initial revenues in excess of $40 million per year with excellent prospects for reaching $50 million a year within the next year. By consolidating the companies under GMIC we expect cost savings that will increase their profitability. We believe the combination of these companies will form the largest independent purely microwave company outside of the U.S. and possibly worldwide. I have made three trips to Israel in the last few months to work with Yonah Adelman, GMIC's General Manager, on this acquisition. It is with a great deal of satisfaction that we announce what we believe is an outstanding acquisition for Herley."

Herley develops microwave technology solutions for the defense, aerospace and medical industries worldwide.

Invitrogen (Carlsbad, California) and Applied Biosystems (AB) formerly known as Appelera (Foster City, California) reported the divisional structure and the executive leadership team for the combination of the two companies. The new structure will become effective upon close of the proposed merger, which is conditional upon shareholder and European Commission approvals.

The new company's four business divisions, focused on core competencies, are:

• Molecular Biology Systems, which will combine AB's Molecular and Cell Biology Functional Analysis division and Invitrogen's Molecular Biology business.

• Genetic Systems, which will be composed of AB's capillary electrophoresis (CE) and SOLiD System sequencing platforms and its Applied Markets business, as well as Invitrogen's Clinical Applications business and its third generation sequencing development program.

The third is Cell Systems, which will provide solutions across the cell biology workflow. followed by Mass Spectrometry Systems, which will provide mass spectrometry-based solutions in research and applied markets.

Greg Lucier, currently chairman/CEO of Invitrogen, will become chairman/CEO of the combined company, and Mark Stevenson, currently AB's president/CEO will assume that same position with the new company.

Invitrogen provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition.

AB is a developer of instrument-based systems, consumables, software, and services for academic research, the life science industry and commercial markets.