Diversified manufacturer Danaher Corp., said it has agreed to buy Canada's Trojan Technologies Inc., a water treatment company, for $8.25 a share, or about $185 million, Reuters reported.
Based in London, Ontario, Trojan, has annual revenue of about $100 million and is a leader in the design, manufacture and sale of water-treatment solutions using ultraviolet technologies.
According to Danaher, a manufacturer of process and environmental controls and tools based in Washington, D.C., the acquisition will add slightly to its 2004 earnings and is expected to be completed through a tender offer.
The acquisition will broaden Danaher's line of water disinfection products as well as boost overseas growth, according to Reuters.
Marvin DeVries, Trojan's president and chief executive said, "By joining forces, we will be able to expand at a faster pace into important emerging markets such as China, Eastern Europe and India."