SANTA CLARA, Calif. & MENLO PARK, Calif.--(BUSINESS WIRE)--Nov. 7,
2007--Agilent Technologies Inc. (NYSE:A) and Velocity11 today
announced that they have signed a definitive agreement for Agilent to
acquire Velocity11. Velocity11, privately held, is a leader in
automated liquid handling and laboratory robotics for the life science
market. Financial details were not disclosed. The acquisition is
expected to be final in 30 to 60 days, subject to certain closing
conditions.
The acquisition will enable Agilent to offer a more comprehensive
suite of workflow solutions to its life science customers in the
pharmaceutical, biotech and academic research markets. Velocity11
designs, manufactures and markets robotic solutions that range from
standalone instrumentation to bench-top automation solutions to large,
multi-armed robotic systems. The company also develops world-class
software to control the robotics. Velocity11's technology will
strengthen Agilent's offering of automated sample-preparation
solutions across a broad range of applications.
"Velocity11 is a market leader in lab automation with a solid
reputation for innovative technology, quality products and superb
customer service," said Nick Roelofs, vice president of Agilent's Life
Science Systems and Solutions Unit. "Together, we can offer customers
a comprehensive set of workflow solutions with increased levels of
automation, which can help speed drug discovery and genetic research.
When the acquisition is final, customers will continue to experience
the same personalized customer service they've come to expect from
Velocity11, with the addition of Agilent's strong network of global
service and support."
"We are very excited to be joining Agilent and to have found a
company with such a complementary culture, product line, commitment to
customer satisfaction and vision for providing complete automated
workflow solutions," said Rob Nail, Velocity11's CEO. "The ability to
leverage Agilent's global infrastructure and deep applications focus
will allow us to continue to improve the services we provide our
customers, innovate in new directions, and rapidly expand our reach
worldwide."
Agilent is offering jobs to substantially all of Velocity11's
approximately 150 employees worldwide. Headquartered in Menlo Park,
Calif., Velocity11 has a second office in Melbourn, Hertfordshire,
U.K., with field sales and support offered throughout the U.S. and
western Europe. The company was established in 1999.
Velocity11 has been recognized as one of the fastest growing
companies in Silicon Valley ("Silicon Valley Fast 50" list) and in
North America ("Technology Fast 500" list and Inc. 500 list). In 2006,
Velocity11 was named to Deloitte's "Fastest Growing U.S. Tech Company"
list.
About Velocity11
Velocity11 is a privately held company based in Menlo Park,
Calif., and is focused on pioneering automation technology solutions
for life science laboratories. The company's customers comprise most
of the major pharmaceutical and biotechnology companies as well as
leading genome centers and academic institutions. Combining innovative
engineering with high standards of quality and customer service,
Velocity11 designs and manufactures flexible high-performance
automation solutions for processes that are transforming the industry.
Velocity11 is committed to providing its customers with The Ultimate
Automation Experience(tm). Information about Velocity11 can be found
on the company's Web site at www.velocity11.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 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
Velocity11's technological expertise and its enhancement of our
product portfolio, information regarding the contribution Velocity11
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
Velocity11'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 Quarterly Report on Form 10-Q for the
quarterly period ended July 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
michele_drake@agilent.com
or
Agilent LSCA
Eric Endicott, +1-858-373-6385
eric_endicott@agilent.com
or
Agilent Investor Relations
Rodney Gonsalves, +1-408-345-8948
rodney_gonsalves@agilent.com
or
Velocity11
Robert Nail, +1-650-846-6650
rnail@velocity11.com
SOURCE: Agilent Technologies Inc.