SANTA CLARA, Calif.--(BUSINESS WIRE)--Jun. 21, 2012--
Agilent Technologies Inc. (NYSE:A) today announced that its acquisition
of cancer diagnostics company Dako has been completed. Agilent, which
paid $2.2 billion in cash for Dako (on a debt-free basis), expects the
acquisition to help strengthen Agilent’s position in life sciences, with
a focus on product development to help in the fight against cancer.
Bill Sullivan, Agilent president and CEO, said, “The acquisition of
Dako, the largest in Agilent’s history, is another step in the expansion
of our life science business. The addition of Dako and its portfolio
will help Agilent accelerate our growth in several rapidly expanding
areas of diagnostics, as well as strengthen our existing offerings. I
look forward to the exciting possibilities ahead.”
“Agilent and Dako have some of the best talent and technology in the
world,” said Lars Holmkvist, Dako CEO. “By combining resources, we
believe that both of our companies will benefit, as will our customers
and employees. I have great confidence in what we will be able to
accomplish together.”
In conjunction with the acquisition, Agilent has formed a fourth
business reporting segment, the Diagnostics and Genomics Group. The new
organization is composed of Dako, led by Lars Holmkvist, and the
Genomics Solutions Division, led by Bob Schueren, vice president and
general manager of Agilent’s genomics group. The Diagnostics and
Genomics Group will report directly to Bill Sullivan.
Dako is one of the leading global suppliers of cancer diagnostics tools,
providing antibodies, reagents, scientific instruments and software to
customers in pathology laboratories.
Agilent and EQT, a Sweden-based private equity group, announced that
they had signed a definitive agreement for the acquisition on May 17.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world’s premier measurement
company and a technology leader in chemical analysis, life sciences,
diagnostics, electronics and communications. The company’s 20,000
employees serve customers in more than 100 countries. Agilent had net
revenues of $6.6 billion in fiscal 2011. Information about Agilent is
available 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 the expansion of
Agilent’s life science business and the future demand for the combined
company’s products and services. 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, unforeseen changes in the
strength of our customers’ businesses, unforeseen changes in the demand
for current and new products, technologies, and services, the risk that
we are not able to realize the revenue growth expected from the combined
company, 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, 2012. 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 at www.agilent.com/go/news.
Source: Agilent Technologies Inc.
Agilent Technologies Inc.
Amy Flores, +1-408-345-8194 (Editorial)
amy_flores@agilent.com
Alicia
Rodriguez, +1-408-345-8948 (Investor)
alicia_rodriguez@agilent.com