Varian sells electronics manufacturing business to Jabil

Palo Alto, CA— Varian Inc. reports that it has sold its electronics manufacturing business to Jabil Circuit Inc. for $195 million, pending a post-closing working capital adjustment. Varian adds that selling its electronics unit will allow it to grow its scientific instruments and vacuum technologies divisions by focusing all its resources on these two divisions.

In addition, Varian previously announced that it would start to repurchase up to $145 million of its common stock when it completed the present divestiture. That repurchase program is now in effect, and replaces a previous authorization to repurchase up to 1 million shares, of which approximately 800,000 shares have been repurchased since Varian agreed to sell its electronics manufacturing business in February 2005.

瓦里安提供科学仪器和真空technologies for life science and industrial applications. The company provides complete solutions, including instruments, vacuum components, laboratory consumable supplies, software, training, and support through its global distribution system.

该公司

Control Engineering Daily News DeskJim Montague, news editorjmontague@reedbusiness.com

Do you have experience and expertise with the topics mentioned in this content? You should consider contributing to our CFE Media editorial team and getting the recognition you and your company deserve. Clickhereto start this process.