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Business deals

Olympus finalizes $3bn scientific device unit sale to Bain

Japanese manufacturer bids farewell to 100-year-old business

Olympus has been in the industrial microscope business since its founding in 1919. (Photo courtesy of Olympus)

TOKYO -- Olympus announced Monday that it has inked a deal to sell its scientific device assets to U.S. private equity company Bain Capital for 427.6 billion yen ($3.1 billion), breaking with the business that spawned the Japanese company more than a century ago.

Olympus made the final decision to sell the business in a board of directors meeting earlier the same day. The transfer of the unit is due to take place next January.

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