FEI’s sale sent the Hillsboro company’s stock price soaring on Friday.
Leading scientific-instrument company Thermo Fisher Scientific announced Friday that it will buy Hillsboro, Ore.-based FEI Co. for about $4.2 billion in cash.
FEI’s stock price shot up more than 14 percent Friday to about $107.85 per share after the news was announced. Thermo Fisher will pay $107.50 per share for the company. FEI closed the trading day at $108.33.
The deal is the second-largest sale of a technology company ever in Oregon, according to The Oregonian newspaper. TriQuint Semiconductor had the largest deal when it merged with a competitor in 2015.
FEI has more than 3,000 employees globally, and its business, which brought in $930 million in revenue last year, will become part of Thermo Fisher’s analytical-instruments division.
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FEI designs electron microscopes used to study proteins, a task and technology that lab-equipment giant Thermo Fisher seems eager to expand.
“In life sciences, there is growing adoption of electron microscopy to study the structure of proteins,” Thermo Fisher president and CEO Marc Casper said in a statement. “The technologies we gain with FEI will complement our mass spectrometry leadership, putting Thermo Fisher in the best position to capitalize on this important trend.”
The company is “excited to welcome our new colleagues from FEI to the Thermo Fisher team,” Casper added, but neither company gave details on how many FEI employees would join the new parent company.