Align Technology (ALGN) to Acquire Cadent Holdings for $190 Million; Deal Accretive to 2012
Tweet
Share
E-mailGet Alerts ALGN Hot Sheet
Price: $159.79 +1.40%
Financial Fact:
Research and development: 20.42M
Today's EPS Names:
RIBT, INLB, FTXP, More
Financial Fact:
Research and development: 20.42M
Today's EPS Names:
RIBT, INLB, FTXP, More
Join SI Premium – FREE
Align Technology, Inc. (Nasdaq: ALGN) has signed a definitive agreement to acquire privately-held Cadent Holdings, Inc. (Cadent), a provider of 3D digital scanning solutions for orthodontics and dentistry based in Carlstadt, New Jersey.
The combination of the two companies will help accelerate the use of intra-oral scanning in the dental industry by leveraging Align's global sales reach, extensive professional and consumer marketing capabilities and base of over 55 thousand users.
Under the terms of the agreement, Align will pay approximately $190 million in cash in exchange for all shares of Cadent.
Align anticipates that the acquisition of Cadent, on a GAAP basis, will dilute fiscal 2011 earnings per share and expects non-GAAP diluted EPS for the year to be in a range of $0.70 to $0.75, excluding acquisition related costs, consisting of amortization of acquired intangibles, transaction related costs and employee retention program costs. The Company expects the transaction to be accretive to non-GAAP EPS for fiscal 2012, excluding acquisition related costs, consisting of amortization of acquired intangibles and employee retention program costs.
The combination of the two companies will help accelerate the use of intra-oral scanning in the dental industry by leveraging Align's global sales reach, extensive professional and consumer marketing capabilities and base of over 55 thousand users.
Under the terms of the agreement, Align will pay approximately $190 million in cash in exchange for all shares of Cadent.
Align anticipates that the acquisition of Cadent, on a GAAP basis, will dilute fiscal 2011 earnings per share and expects non-GAAP diluted EPS for the year to be in a range of $0.70 to $0.75, excluding acquisition related costs, consisting of amortization of acquired intangibles, transaction related costs and employee retention program costs. The Company expects the transaction to be accretive to non-GAAP EPS for fiscal 2012, excluding acquisition related costs, consisting of amortization of acquired intangibles and employee retention program costs.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- PG&E downgraded by Wells Fargo, BMO as California wildfire reform falls short
- HawkEye 360 lock-up ends early, shares eligible Sept. 2
- Helix shareholders approve merger with Hornbeck Offshore Services
Create E-mail Alert Related Categories
Guidance, Mergers and AcquisitionsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
