Varian Purchases Fourier Transform Mass Spectrometry Company

In California, Varian Inc. of Palo Alto has acquired IonSpec Corp. of Lake Forest, with the intention of expanding its detection portfolio. The acquisition of the company, including its Fourier transform mass spectrometry technology, is expected to strengthen Varian’s position in life sciences applications, particularly in the study of proteins, nucleic acids and drug metabolites.

The initial cash purchase price is approximately $16 million, including the payment of assumed debt. The transaction includes an opportunity for an additional payment if the products reach specified financial goals over a three-year period.