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Subsequent Events
9 Months Ended
Sep. 30, 2019
Subsequent Events  
Subsequent Events

20.  Subsequent Events

On October 1, 2019, the Company acquired the electron paramagnetic resonance (“EPR”) business of Magnettech GmbH (“Magnettech”), a privately held Company, for a purchase price of Euro 8.5 million (approximately $9.3 million). Magnettech is a leading provider of benchtop electron paramagnetic resonance systems and EPR accessories. Magnettech is located in Freiberg, Germany and will be integrated into the Bruker BioSpin Group within the BSI Segment. The purchase accounting for this acquisition will be finalized within the measurement period.

On October 31, 2019, Bruker Corporation signed a purchase and sale agreement to acquire the land and buildings at 15 Fortune Drive and 44 Manning Road, both in Billerica, MA, for a total purchase price of $12.3 million, from a trust controlled equally by Bruker’s President and CEO, Frank Laukien, and his half-brother, Dirk D. Laukien. The price for the properties is based on an independent third-party appraisal and arms-length negotiations with the sellers. The properties are located adjacent to the Company’s corporate headquarters at 40 Manning Road, Billerica, MA which is already a corporate asset. One of the properties, 15 Fortune Drive, is currently leased by the Company and the other property, 40 Manning Road, is leased to third parties.

These purchase are part of the Company’s plan to expand its corporate campus in Billerica for future business growth. Subject to satisfactory due diligence and customary closing conditions, the transaction is expected to close in the first quarter of 2020.