On Sept. 19, 2016, Thermo Fisher announced it had completed its acquisition of FEI Company for a total purchase price of $4.2 billion. The Hillsboro, Oregon-based business become part of Thermo Fisher’s Analytical Instruments Segment.

FEI, founded in 1971 had over 3,000 employees and sales and service operations in more than 50 countries around the world. Thermo Fisher is the world leader in serving science, with revenues of $17 billion and more than 50,000 employees in 50 countries.

Thermo Fisher was expected to realize total synergies of approximately $80 million by year three following the close, consisting of approximately $55 million of cost synergies and approximately $25 million of adjusted operating income benefit from revenue-related synergies. Thermo Fisher continued to expect the transaction to be accretive to adjusted earnings per share by $0.30 in the first full year after close.