Cynosure to Acquire Palomar Medical Technologies

Cynosure (NASDAQ: CYNO  ) has inked a definitive agreement to acquire Palomar Medical Technologies (NASDAQ: PMTI  ) . The purchase will be a mix of stock and cash at a total value of roughly $294 million. Palomar shareholders will receive $13.65 per share in the buyout -- half in stock and half in cash.

The company's stock closed at $13.17 after the deal was announced.

The move is seen as a highly synergistic one for Cynosure, as the two firms manufacture broadly similar products and both are based in Massachusetts. Combined, the companies boast a total installed base of more than 20,000 aesthetic laser systems throughout the world and a distribution network that covers more than 100 countries. Their combined 2012 revenue was around $234 million.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2319272, ~/Articles/ArticleHandler.aspx, 11/1/2014 10:12:22 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement