A short period of prognostication heavily foreshadowed a momentous sell off from Japanese techmaker Olympus that has now come to fruition. The company has entered into an agreement to let go of its scientific solutions business for the hefty sum of $3.1 billion to buyer Bain Capital Private Equity. The deal is expected to close near the beginning of 2023.
Olympus’ scientific solutions unit, known as Evident, consists of various tools and devices spanning industrial and life science applications; its products include a range of testing equipment such as microscopes, videoscopes, fiberscopes, X-ray fluorescence analyzers, and more. Its 2022 fiscal year, which wrapped up in March, saw revenues of $860 million for a year-to-year increase of over 24%. The sale follows Olympus separating this unit from the rest of its business in the interest of upping the ante on its medtech segment back in April.
“Evident will continue under the Bain Capital umbrella to provide its customer base with a broad range of innovative products and services across the globe,” said Evident President Yoshitake Saito. “On the basis of our long-term expertise, we will expand our digital technologies, including cloud-based solutions, to enhance the customer experience and to improve the overall workflow in several research and inspection fields.”
