Agilent Completes Acquisition of BioTek Instruments - Builds on Multi-Year Growth Strategy in Critical Cell Analysis Technology
August 26, 2019
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).
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.
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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