Published on 20 Mar 2023 on Zacks via Yahoo Finance
PerkinElmer (PKI) Completes Divestment, New Business Name in Q2
PerkinElmer Inc. PKI announced the completion of the divesture of its Applied, Food and Enterprise Services ("AES") business to an investment firm, New Mountain Capital. The company had signed an agreement with the firm last August for the divesture of its AES business for up to $2.45 billion in total consideration.
The AES business was part of PKI’s Discovery & Analytical Solutions segment. This business, along with the Life Sciences and Diagnostics business, will continue to share the PerkinElmer name for some time.
The company stated that it will unveil a new name, brand and ticker symbol for the Life Sciences and Diagnostics business during the second quarter of 2023, following approval from shareholders.