Olympus Buys U.S. X-Ray Fluorescence Analyzer Maker for 77M USD

Olympus Buys U.S. X-Ray Fluorescence Analyzer MakerTOKYO (Nikkei)--Olympus Corp. (7733) said Friday that it has purchased a 100% stake in Innov-X Systems Inc., a U.S. boutique firm specializing in X-ray fluorescence analyzers, for roughly 77.5 million dollars. The acquisition will enable the Olympus group to expand its lineup of industrial testing equipment, such as videoscopes. X-ray fluorescence analyzers enable users to identify the types and volumes of elements contained in an object by irradiating small amounts of X-rays. Innov-X has been enjoying strong sales of its portable X-ray fluorescence analyzers.The Japanese precision equipment maker sees demand for X-ray fluorescence analyzers growing worldwide for use in detecting harmful substances in electronic devices and building materials, as well as for evaluating mineral resources. Headquartered in the U.S. state of Massachusetts, Innov-X was established in 2001. Employing roughly 120, it reported 40 million dollars in sales for 2009.