Danaher Corporation announced today that it has signed a definitive agreement to purchase Marconi Commerce Systems, formerly known as Gilbarco, from Marconi plc for $325 million. The acquisition remains subject to regulatory approval and other customary closing conditions.

Gilbarco, with approximately $500 million in revenues, is a global leader in retail automation and environmental products and services. First-year Danaher EPS accretion is expected to be minimal.

"Gilbarco represents an excellent and natural adjacency for Danaher's environmental platform and its Veeder-Root business," remarked H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer. "Combining Gilbarco and Veeder-Root creates a leading global franchise with outstanding brands uniquely capable of providing a full range of integrated automation and environmental solutions for our retail petroleum customers. Additionally, the purchase of Gilbarco will accelerate Veeder-Root initiatives in vapor recovery and supply chain management. We also expect to leverage the Danaher Business System to capture significant cost savings in the combined businesses in the future."

Danaher Corporation is a leading manufacturer of Process / Environmental Controls and Tools and Components (http://www.danaher.com/ ).

Statements in this release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.

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SOURCE: Danaher Corporation