Tech Dealmaker Awards

Green

Peabody-based Analogic Corp., a designer and manufacturer of health and security systems, signed an agreement to acquire Canton-based Copley Controls Corp. for $78.7 million in cash on March 5, 2008.

Analog treated the acquisition as an asset purchase for tax purposes and agreed to pay former Copley shareholders $1.8 million in the aggregate as reimbursement for the tax consequences of the deal. Analogic estimated $83 million in revenue from the deal in 2008.

Because Analogic is an OEM supplier of radio frequency (RF) amplifiers for magnetic resonance imaging (MRI) equipment, and developed the first all-solid-state and first water-cooled RF amplifiers, and Copley is an OEM supplier of gradient amplifiers for MRI, the acquisition made sense, according to Analogic. It helped Analogic gain a complementary customer base, expand its product offerings to OEM customers, and strengthen its position in the MRI systems market, Analogic president and CEO Jim Green said.

“Analogic is now able to offer its OEM customers high-level, integrated power systems (RF plus gradients plus spectrometer), which means our customers can get to market faster, reduce costs, and increase system reliability,” Green said. “This acquisition established Analogic as the world’s largest OEM supplier of power systems for MRI, a business roughly comparable in magnitude to our medical CT and ultrasound businesses.”

Green said he hopes the acquisition is the first in a series that will broaden Analogic’s product offerings.

— Bridget Botelho

Category

Hardware

The Deal

Analogic Corp. acquired Copley Controls Corp. for $78.7 million on March 5, 2008

Key Executives

Analogic: President and CEO Jim Green; senior vice president and general manager, OEM Products Group, Peter Howard; vice president of corporate business development Jim Da Costa; senior vice president, CFO and treasurer John Millerick; vice president, general counsel and corporation secretary John Fry; corporate counsel Dan Trinkle
Copley Controls: Former president and co-founder Matt Lorber

Deal advisers

Legal: Analogic, WilmerHale; Copley Controls, Edwards Angell Palmer & Dodge

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