Wyatt Technology Corporation Continues to Lead in Light Scattering Innovations

The company has been a pioneer in the field of light scattering for over 40 years.

Their flagship instrument, the DynaPro, is a highly sensitive and versatile tool for measuring the size and shape of particles.

This technology has been widely adopted across various industries, including pharmaceuticals, biotechnology, and materials science.

By providing accurate and reliable results, Wyatt Technology Corporation has helped researchers and scientists make significant breakthroughs in their respective fields.

Waters Corporation, a laboratory instrumentation maker, acquired Wyatt Technology for $1.36 billion in cash in February 2023.

Wyatt Technology is a pioneer and well-recognized leader in innovative light scattering and field-flow fractionation instruments, software, accessories, and services.

The acquisition completes Waters' largest deal ever, with Wyatt's highly complementary analytical technologies aligning with Waters' intention to expand into analytical support for emerging medical technologies.

Wyatt Technology's customer base aligns with Waters' goal of expanding into analytical support for emerging medical technologies, an area that Waters describes as technologically adjacent to its existing strength in chromatography and spectroscopy for quality assurance and control applications.

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The Wyatt family, which has owned and run the company since Philip Wyatt founded it in 1982, will see a big change with the deal.

Waters will stop repurchasing its own shares through the end of 2023 and use that cash to pay off debt instead.

Wyatt Technology's scientists invented the very first commercial light scattering detectors incorporating lasers as their light source more than 40 years ago.

The company has a staff composed of approximately 25% Ph.D. scientists, and many more dedicated and experienced support personnel.

With the acquisition, Waters will be able to build a high-growth business in bioanalytical characterization for new modalities, including cell and gene therapies.

The total addressable market for cell and gene therapies is $1.8 billion with 10-12% projected annual growth.

Waters expects to generate over $70 million in annual revenue synergies by the fifth year following transaction close.

The acquisition is expected to be immediately accretive to Waters' revenue growth and margin profile.

Waters expects to be accretive to its adjusted earnings per share beginning in Q1 2024 and to deliver a high single-digit plus adjusted return on invested capital in year five, net of tax.

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Wyatt Technology is a true success story in the scientific community, receiving numerous accolades for its innovative instruments and contributions to research.

The company has been named one of the "Best Places to Work in Industry" by The Scientist magazine from 2008-2013.

Wyatt Technology's founder, Philip Wyatt, was granted the American Physical Society's prize for "Industrial Applications of Physics" for his pioneering developments in the inverse scattering problem and successful commercialization of analytical instrumentation.

The company's Optilab rEX differential refractometer was awarded the 2004 Pittcon Editor's Silver award and was also named one of the top 100 innovative new products of the year by R&D Magazine.

Wyatt Technology's HELEOS II MALS detector won Select Science's Reviewers’ Choice Award for Instrument of the Year in 2017.

The company has received several local business awards, including the South Coast Business and Technology Award as "Company of the Year" in 2009 and the Spirit of Small Business award in 2004.

Wyatt Technology's instruments have been used by about 30,000 scientists worldwide and have been used in the research of several Nobel Laureates.

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