PALO ALTO, Calif.--(BUSINESS WIRE)--Nov. 29, 2005--Agilent
Technologies Inc. (NYSE:A) today announced that it has acquired
privately held Molecular Imaging Corp., a leading developer and
manufacturer of nanotechnology measurement tools. Financial details
were not disclosed.
Based in Tempe, Ariz., Molecular Imaging is known for its atomic
force microscopes (AFMs), the principal imaging and measurement
instruments used by researchers working in nanotechnology. Called the
"eyes of nanotechnology," AFMs are used to measure the shape and
properties of materials at the nanometer scale.
Agilent already has a solid position in the laser interferometer
market to precisely measure distances at the nanometer scale. The
acquisition of Molecular Imaging marks the next step in strengthening
Agilent's market position in nanomeasurement by extending the
company's portfolio into imaging at the nanometer scale through AFMs.
"This is a strategic acquisition for Agilent because it
complements our core strength of measurement technology while growing
our presence in nanotechnology," said Bob Burns, vice president of
Agilent's Nanotechnology Measurements Division. "Molecular Imaging has
premier AFM technology that is the high-performance value leader in
the market and is the leader in imaging 'in-situ' samples in their
natural state."
Nanotechnology is important to Agilent, Burns said, because it is
a common denominator between the two chief areas of the company's
business -- the electronic measurements side and the analytical
measurements side, which concentrates on life sciences and chemical
analysis.
Atomic force microscopes are a significant portion of the $1
billion market for nanotechnology measurement tools. Molecular
Imaging's chief product line is the PicoPlus(R) family of modular,
high-resolution AFMs, which are used for high-resolution imaging in
fluids as well as ambient and controlled environmental and temperature
conditions. Customers are researchers in the areas of drug discovery,
life science, electrochemistry, materials science and polymer science.
Ideal for multipurpose, multiuser facilities, the versatile PicoPlus
gives researchers the ability to customize their systems and add
functionality as needed.
"We're looking forward to being a part of Agilent because of its
deep history of innovation and technology expertise," said Vance Nau,
president and CEO of Molecular Imaging.
Professor Stuart Lindsay and Dr. Tianwei Jing from Arizona State
University founded Molecular Imaging in 1993. The company has had a
continuous relationship with ASU and its Lindsay Laboratory since
then. Because of the strong ties between Molecular Imaging and ASU,
Agilent has no plans to move Molecular Imaging operations from the
Tempe area. Molecular Imaging employees have joined Agilent.
Molecular Imaging is the premier developer and supplier of atomic
force microscopes and scanning probe microscope (SPM) systems for
high-resolution imaging in fluids or ambient air under controlled
temperatures and environmental conditions. The company's products are
designed for nanotechnology research applications in life science,
biotechnology, electrochemistry and material and polymer science. More
information about Molecular Imaging is available at www.molec.com.
A backgrounder containing additional information about AFMs can be
found at www.agilent.com/find/AFM_backgrounder.
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 27,000
employees serve customers in more than 110 countries. Agilent had net
revenue of $5.1 billion in fiscal year 2005. 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
Agilent's nanotechnology business and market position following the
completion of its acquisition of Molecular Imaging, the growth of
Agilent's presence in the nanotechnology area and Agilent's intent not
to relocate Molecular Imaging's operations, the ability of Agilent to
meet certain strategic objectives, and Agilent's willingness and
ability to develop and support Molecular Imaging products 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 Molecular Imaging's products 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 while it continues to implement cost reductions; 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 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 our Quarterly Report on Form 10-Q for
the period ended January 31, 2005. 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
CONTACT: Agilent Technologies Inc.
Janet Smith, 970-679-5397 (Editorial)
janet_smith@agilent.com
Michele Drake, 650-752-5296 (Editorial)
michele_drake@agilent.com
Hilliard Terry, 650-752-5329 (Investor)
hilliard_terry@agilent.com
SOURCE: Agilent Technologies Inc.