Thermo Electron
Fate | Merged |
---|---|
Successor | Thermo Fisher Scientific |
Founded | 1956 |
Defunct | 2006 |
Headquarters | Waltham, Massachusetts |
Products | Analytical and scientific products and services |
Number of employees | 37,000 |
Thermo Electron Corporation (NYSE: TMO) (incorporated 1956) was a major provider of analytical instruments and services for a variety of domains. Thermo Electron was co-founded in 1956 by George N. Hatsopoulos (DOB 07/01/1927), Peter M. Nomikos (DOB 26/02/1932). Hatsopoulos is a MIT PhD in mechanical engineering and Nomikos a Harvard Business School graduate.[1]
After graduating from Northeastern University in 1959 John Hatsopoulos[2] (brother of George) joined the company as CFO. Arvin Smith joined the company in 1970 later serving as President from January 1998.[3]
In 2011, Thermo Fisher Scientific, its successor, had revenues of over $11 billion, and employed 37,000 people.
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]
Products
- Zetatron, a high-voltage vacuum tube device that generates a stream of neutrons
Notes
- ↑ http://web.mit.edu/newsoffice/founders/Thermo.html Company founding
- ↑ http://www.bloomberg.com/research/stocks/people/person.asp?personId=760477&privcapId=30029621
- ↑ http://www.bloomberg.com/research/stocks/private/person.asp?personId=1122456&privcapId=29977788
- ↑ Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific, press release, November 9, 2006
- ↑ Merger of Thermo and Fisher anticompetitive, FTC Ruling
- ↑ 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
- ↑ FTC consent to Genevac divestiture, FTC news release
External links
- www.thermoelectron.com (25 June 2006 snapshot from Internet Archive)
- History of company founding