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SonoSite, the publicly traded ultrasound device company headquartered near Seattle, will be acquired by Tokyo-based Fujifilm Holdings Corp. for $995 million under a deal announced by the companies this morning.

The agreement calls for SonoSite to become a wholly owned Fujifilm subsidiary, maintaining its existing management team and its current operations in Bothell.

SonoSite’s management  “will play a key role in driving the group’s future growth in the medical equipment sector, a key strategic pillar of Fujifilm,” according to a news release.

The boards of both companies have approved the deal. At $54 per share, the deal works out to a 50 percent premium over SonoSite’s share price over the past three months.

SonoSite’s products include portable ultrasound and cardiovascular diagnostics systems. As of December 2010, SonoSite had 878 employees, including 596 in the U.S.

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