Agilent to Acquire BioTek Instruments for $1.17 Billion

By Michael Dabaie

Agilent Technologies Inc. (A) said it would acquire privately-owned BioTek Instruments for $1.165 billion.

With anticipated tax benefits for Agilent, the net purchase price is expected to be about $1.05 billion, Agilent said.

The deal is expected to be completed in Agilent's fiscal fourth quarter. Agilent said it expects the purchase to boost adjusted earnings per share, contributing 2 cents to 4 cents for fiscal year 2020, and compounding growth thereafter.

BioTek makes life science instrumentation, including cell imaging systems, microplate readers, washers, dispensers, automated incubators and stackers. BioTek's fiscal 2018 revenue was $162 million and is expected to rise about 10% in 2019, Agilent said.

The deal expands Agilent's portfolio in cell analysis, the company said.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

July 11, 2019 08:33 ET (12:33 GMT)

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