Plainview-based Veeco Instruments Inc. will sell its metrology business for $229 million in cash, the company said Monday.
The sale affects only the company’s operations in California and Arizona.
Veeco made the sale to improve its focus on process equipment for the LED, solar and data storage markets.
The sale is expected to close later this year.
The buyer is Bruker Corporation, which Veeco called “a leading provider of high-performance scientific instruments and solutions for molecular and materials research, for $229 million in cash.”
The sale includes Veeco’s atomic force microscope business, based in Santa Barbara, Calif. Metrology is the science of measurement, and the photo above shows the gap between two electrically conducting tracks in a photovoltaic cell taken with the atomic force microscope.
The transaction also includes Veeco’s optical industrial metrology business in Tucson, Ariz. Additional terms of the transaction were not disclosed.
Veeco has updated its guidance to Wall Street, saying its 2010 revenues from continuing operations will be about $1 billion, with about 90 percent from its LED and solar business segment.
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