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Thermo Electron

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Thermo Electron Corporation
Founded1956
FounderGeorge N. Hatsopoulos Edit this on Wikidata
Defunct2006
FateMerged with Fisher Scientific
SuccessorThermo Fisher Scientific
HeadquartersWaltham, Massachusetts
ProductsAnalytical and scientific products and services
Number of employees
37,000
Arvin Smith and George Hatsopoulos receive the 2011 Pittcon Heritage Award from Tom Tritton of the Chemical Heritage Foundation

Thermo Electron Corporation (NYSE: TMO) (incorporated 1956) was a major provider of analytical instruments and services for a variety of domains. It was co-founded in 1956 by George N. Hatsopoulos, an MIT PhD in mechanical engineering, and Peter M. Nomikos, a Harvard Business School graduate, who provided initial funding.[1]

After graduating from Northeastern University in 1959 John Hatsopoulos[2] (brother of George) later joined the company as Financial Controller. Arvin Smith joined the company in 1970, and was President from January 1998.[3]

On May 14, 2006, Thermo and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange. The merged company became Thermo Fisher Scientific. On November 9, 2006, the companies announced that the merger had been completed.[4] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[5] In April 2007, Genevac was sold to Riverlake Partners LLC[6] and the merger closed with FTC approval.[7]

In 2011, the aggregated company Thermo Fisher Scientific had revenues of over $11 billion, and employed 37,000 people.

Products

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References

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  1. ^ "Company founding". Retrieved 2024-09-10.
  2. ^ "Stocks". Bloomberg News. 6 July 2023.
  3. ^ "Arvin H Smith, Glenrose Instruments Inc: Profile and Biography". Bloomberg News.
  4. ^ Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific Archived 2012-07-22 at archive.today, press release, November 9, 2006
  5. ^ Merger of Thermo and Fisher anticompetitive, FTC Ruling
  6. ^ 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
  7. ^ FTC consent to Genevac divestiture, FTC news release
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