PALO ALTO, Calif., Feb. 27, 2006 -- Scientific instruments and vacuum technologies provider Varian Inc. announced today that it will buy Lake Forest, Calif.-based IonSpec Corp. for $16 million in cash, a move Varian said will increase its capabilities in life sciences applications through the acquisition of IonSpec's Fourier transform mass spectrometry (FTMS) technology. In a written statement, Varian said the acquisition will increase the company's participation in faster growing life science applications, in particular in the study of proteins, nucleic acids and drug metabolites, and is part of its strategy to strengthen its product portfolio that includes nuclear magnetic resonance, magnetic resonance imaging, mass spectrometry and Fourier transform infrared systems. The initial purchase price of approximately $16 million includes the pay down of assumed debt; the company did not give a timetable for when it expected the acquisition to be completed. The transaction also includes an opportunity for an additional purchase price payment if FTMS products reach financial goals over a three-year period. FTMS instruments are used worldwide in laboratories to discover the function and structural characterization of proteins and other biomolecules in various biological systems. This information provides scientists with fundamental knowledge about how cells work and how diseases evolve, leading to new diagnostic research and new drug targets. Varian said FTMS is increasingly important because it offers the most accurate mass determination and the highest possible resolution of any type of mass spectrometry instrument available today. For more information, visit: www.varianinc.com