Agilent Technologies Signs Agreement to Acquire Stratagene Corp., a Developer of Life Science Research and Diagnostic Products
April 06 2007 - 11:00AM
Business Wire
Agilent Technologies Inc. (NYSE:A) today announced that it has
signed a definitive agreement with Stratagene Corp. (NASDAQ:STGN)
to acquire the developer, manufacturer and marketer of specialized
life science research and diagnostic products. Under the terms of
the agreement, each share of Stratagene common stock will be
converted into the right to receive a cash payment of $10.94. The
acquisition is expected to be closed in approximately 90 days,
subject to certain closing conditions. Stratagene�s products are
used by scientists in academia, government research and industry in
molecular biology, genomics, proteomics, drug discovery and
toxicology. Stratagene�s portfolio includes reagents for life
science research and instruments. The company also offers a range
of diagnostics products, including applications for allergy testing
and urinalysis. The acquisition of Stratagene is expected to
broaden the customer base for both Agilent and Stratagene. �We see
Stratagene�s technology, products and expertise as being highly
complementary to Agilent�s life sciences portfolio, enabling us to
offer our customers more complete workflow solutions,� said Nick
Roelofs, vice president and general manager of Agilent�s Life
Sciences Solutions Unit. �Stratagene has a strong R&D team as
well as excellent presence in the important academic and government
markets.� Founded in 1984, Stratagene is based in La Jolla, Calif.
The company employs more than 400 employees worldwide, who are
expected to join Agilent. Major company locations are Garden Grove,
Calif.; Cedar Creek, Texas; Edinburgh, Scotland; Tokyo, Japan; and
Amsterdam, the Netherlands. More information about Stratagene is
available at www.stratagene.com. About Agilent Technologies Agilent
Technologies Inc. (NYSE:A) is the world�s premier measurement
company and a technology leader in communications, electronics,
life sciences and chemical analysis. The company�s 19,000 employees
serve customers in more than 110 countries. Agilent had net revenue
of $5.0 billion in fiscal year 2006. Information about Agilent is
available on the Web at www.agilent.com. Forward-Looking Statements
This news release contains forward-looking statements as defined in
the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding
Stratagene�s technological expertise and its enhancement of our
product portfolio, information regarding the contribution
Stratagene would make to Agilent�s ability to address customer
demands, and the ability of Agilent to provide improved products,
services and support to its customers following the closing. These
forward-looking statements involve risks and uncertainties that
could cause Agilent�s results to differ materially from
management�s current expectations. Such risks and uncertainties
include, but are not limited to risks associated with the ability
to effectuate the acquisition on a timely basis, risks associated
with changes in demand for Agilent�s and Stratagene�s products,
risks associated with the timing of completion of the acquisition
and risks associated with the development generally of Agilent�s
overall strategic objectives. In addition, other risks that Agilent
faces in running its operations include the ability to execute
successfully through business cycles; ongoing competitive, pricing
and gross margin pressures; the impact of geopolitical
uncertainties on our markets and our ability to conduct business;
the ability to improve asset performance to adapt to changes in
demand; the ability to successfully introduce new products at the
right time, price and mix and other risks detailed in Agilent�s
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the period ended October 31, 2006
and its Quarterly Report on Form 10-Q for the period ended January
31, 2007. Forward-looking statements are based on the beliefs and
assumptions of Agilent�s management and on currently available
information. Agilent undertakes no responsibility to publicly
update or revise any forward-looking statement. NOTE TO EDITORS:
Further technology, corporate citizenship and executive news is
available on the Agilent news site at www.agilent.com/go/news.
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