Agilent Completes Acquisition of BioTek Instruments
August 26 2019 - 8:00AM
Business Wire
Builds on Multi-Year Growth Strategy in
Critical Cell Analysis Technology
Agilent Technologies Inc. (NYSE: A) today announced it has
completed the acquisition of BioTek Instruments, a global leader in
the design, manufacture and distribution of innovative life science
instrumentation.
The BioTek acquisition expands Agilent’s growing presence and
expertise in cell analysis and strengthens the company’s position
in the large and growing immuno-oncology and immunotherapy areas.
The combined portfolio will allow Agilent to deliver a range of
unique cell analysis workflows to provide customers the ability to
obtain deeper, more reliable insights across a variety of cell
analysis applications. This combination expands the company’s
presence in biopharma, academia and research, as customers seek to
understand complex cellular environments and interactions.
“We’re extremely pleased to add BioTek’s tremendously talented
employees and industry leading technologies to the Agilent team,”
said Mike McMullen, Agilent president and CEO. “The combination of
our two companies and our collective offerings will help lead to a
better understanding of cell function, behavior and interactions.
This will enable researchers to more quickly achieve significant
breakthroughs in solving the most complex health and science
challenges.”
In Agilent’s fiscal year fourth quarter, it’s expected that
BioTek will contribute approximately $20 million to $25 million to
Agilent revenues with no material impact on fourth quarter earnings
per share (EPS).
About Agilent
Agilent Technologies Inc. (NYSE: A) is a global leader in life
sciences, diagnostics and applied chemical markets. With more than
50 years of insight and innovation, Agilent instruments, software,
services, solutions and people provide trusted answers to
customers' most challenging questions. The company generated
revenues of $4.91 billion in fiscal 2018 and employs 15,550 people
worldwide. Information about Agilent is available at
www.agilent.com. To receive the latest Agilent news, subscribe to
the Agilent Newsroom.
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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, statements regarding the
capabilities and expertise the acquisition brings, the ability to
supply industry requirements, acceleration of growth and effect on
earnings. 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, the ability to
integrate BioTek's operations with Agilent's, retain key employees,
meet customer expectations, realize efficiencies from the combined
businesses and realize anticipated tax benefits. In addition, other
risks that Agilent faces in running its operations include the
ability to execute successfully through business cycles; the
ability to meet and achieve the benefits of its cost-reduction
goals and otherwise successfully adapt its cost structures to
continuing changes in business conditions; ongoing competitive,
pricing and gross-margin pressures; the risk that our cost-cutting
initiatives will impair our ability to develop products and remain
competitive and to operate effectively; the impact of geopolitical
uncertainties and global economic conditions on our operations, our
markets and our ability to conduct business; the ability to improve
asset performance to adapt to changes in demand; the ability of our
supply chain to adapt to changes in demand; the ability to
successfully introduce new products at the right time, price and
mix; the ability of Agilent to successfully integrate recent
acquisitions; the ability of Agilent to successfully comply with
certain complex regulations; and other risks detailed in Agilent's
filings with the Securities and Exchange Commission, including our
quarterly report on Form 10-Q for the quarter ended April 30, 2019.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190826005150/en/
MEDIA CONTACT: Tom Beermann + 1 408 553 2914
tom.beermann@agilent.com
INVESTOR CONTACT: Ankur Dhingra +1 408 553 4341
ankur_dhingra@agilent.com
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