Bruker acquires hand-held X-ray fluorescence specialist KeyMaster
The market for hand-held X-ray fluorescence devices is still small — about $90 million — but it is the fastest-growing segment of X-ray detection devices; Bruker draws the right conclusions and acquires an innovative specialist in the field
Billerica, Massachusetts-based Bruker AXS has acquired all of the shares of privately held Kennewick, Washington-based KeyMaster Technologies from KeyMaster’s previous majority shareholder Boston, Massachusetts-based Advent International and other shareholders. The share purchase agreement for KeyMaster was signed and the transaction was closed simultaneously on 18 July 2006. KeyMaster Technologies develops and manufactures portable hand-held X-ray fluorescence (XRF) systems for various applications, including metals and alloy analysis used in different metal processing industries, including automotive, scrap sorting, and others; Positive Material Identification (PMI) required, for example, in the aerospace and power industries; Restrictions of Hazardous Substances (RoHS) analysis which is required under European regulations; environmental metals-in-soil or lead-in-paint (LiP) analysis; art, museum, and archaeological analysis; and elemental taggant analysis for tracing of origin and security applications.
This is a smart move for Bruker as the hand-held XRF market, although still small, has been the fastest growing market segment in X-ray analysis in recent years, with an estimated total market size of $90 million in 2005.
As a new Bruker AXS subsidiary, KeyMaster will remain in its current location, and will continue under its current name and management team in order to provide leading hand-held XRF systems and cutting-edge, miniaturized, light-weight X-ray technologies both to KeyMaster’s present OEM customers, as well as to Bruker AXS.
