SANTA CLARA, Calif.--(BUSINESS WIRE)--April 6, 2007--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.
CONTACT: Agilent Corporate
Michele Drake, +1-408-345-8396 (Media)
michele_drake@agilent.com
or
Agilent LSCA
Stu Matlow, +1-408-553-7191 (Media)
stu_matlow@agilent.com
or
Agilent
Rodney Gonsalves, +1-408-345-8948 (Investors)
rodney_gonsalves@agilent.com
SOURCE: Agilent Technologies Inc.