Thermo Electron

Thermo Electron Corporation
Founded1956 (1956)
FounderGeorge N. Hatsopoulos
Peter M. Nomikos
DefunctNovember 9, 2006 (2006-11-09)
FateMerged with Fisher Scientific
SuccessorThermo Fisher Scientific
HeadquartersWaltham, Massachusetts, U.S.
ProductsAnalytical and scientific products and services
Number of employees
37,000

Thermo Electron Corporation (NYSE: TMO) was a major provider of analytical instruments and services for a variety of domains. It was co-founded in 1956 by George N. Hatsopoulos, an MIT PhD in mechanical engineering, and Peter M. Nomikos, a Harvard Business School graduate, who provided initial funding.[1]

After graduating from Northeastern University in 1959, John Hatsopoulos[2] (brother of George) later joined the company as Financial Controller. Arvin Smith joined the company in 1970, and was President from January 1998.[3]

On May 14, 2006, Thermo and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange. The merged company became Thermo Fisher Scientific. On November 9, 2006, the companies announced that the merger had been completed.[4] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[5] In April 2007, Genevac was sold to Riverlake Partners LLC[6] and the merger closed with FTC approval.[7]

In 2011, the aggregated company Thermo Fisher Scientific had revenues of over $11 billion, and employed 37,000 people.

Products

References

  1. ^ "Company founding". Retrieved 2024-09-10.
  2. ^ "Stocks". Bloomberg News. 6 July 2023.
  3. ^ "Arvin H Smith, Glenrose Instruments Inc: Profile and Biography". Bloomberg News.
  4. ^ Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific Archived 2012-07-22 at archive.today, press release, November 9, 2006
  5. ^ Merger of Thermo and Fisher anticompetitive, FTC Ruling
  6. ^ 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
  7. ^ FTC consent to Genevac divestiture, FTC news release
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