Acquisition Complements Agilent’s Market-Leading Separations and Mass
Spectrometry Solutions, Expands Pharma Offerings
SANTA CLARA, Calif. & BILLERICA, Mass.--(BUSINESS WIRE)--Sep. 9, 2015--
Agilent Technologies Inc. (NYSE:A) and Seahorse Bioscience today
announced they have signed a definitive agreement under which Agilent
will acquire Seahorse Bioscience, a leader in providing instruments and
assay kits for measuring cell metabolism and bioenergetics.
Exploration into cell metabolism is rapidly accelerating as the links
between mitochondrial function and disease are increasingly revealed.
Seahorse Bioscience’s leading technology enables researchers to better
understand cell health, function and signaling, and how the cell may be
impacted by the introduction of a specific drug, by providing real-time
kinetics to unlock essential cellular bioenergetics data.
Scientists use Seahorse Bioscience’s proprietary XF Technology to
research the role of cell metabolism in neurodegeneration, aging,
cancer, cardiovascular disease, cell physiology, toxicology and
hepatobiology, immunology, infectious diseases, mitochondrial diseases,
model organisms, obesity, diabetes, metabolic disorders, screening and
translational medicine.
“Seahorse Bioscience’s unique technology is the perfect complement to
Agilent’s market-leading separations and mass spectrometry solutions, in
particular for metabolomics research and disease research in pharma,”
said Patrick Kaltenbach, president of Agilent’s Life Sciences and
Applied Markets Group. “The combination of these two platforms gives
scientists a more comprehensive and faster path to researching the most
challenging diseases affecting mankind. Seahorse’s team and technology
are an ideal fit for Agilent and for our customers, and we look forward
to bringing them on board.”
“We are proud to have enabled the exploration of bioenergetics in living
cells by nearly 10,000 scientists worldwide, and to have created a new
category of cell-based assay tools,” said Jay Teich, chief executive
officer, Seahorse Bioscience. “Joining Agilent, a premier,
customer-focused supplier of technology to a much broader market, will
give many more researchers access to Seahorse tools. And when these two
technology-rich companies combine, we expect to offer a series of new
products and applications that will benefit our customers.”
Privately held Seahorse Bioscience, founded in 2001, is headquartered in
Billerica, Massachusetts, with manufacturing operations in Chicopee,
Massachusetts. Regional offices are in Copenhagen, Denmark, and
Shanghai, China. Seahorse Bioscience employs just under 200 people, most
of whom are expected to join Agilent.
Agilent is acquiring Seahorse Bioscience for $235 million in cash.
Seahorse’s FY15 revenue is estimated to be $49 million. The transaction
is expected to be accretive in FY16 to Agilent and will be debt financed.
The acquisition is expected to be completed by Nov. 1, subject to local
laws and regulations and customary closing conditions.
About Seahorse Bioscience
Seahorse Bioscience’s XF metabolic analyzers and stress test kits are
the industry standard in cell metabolism measurements. Scientists
worldwide are using Seahorse XF Technology to advance their research in
understanding the role of cell metabolism in neurodegeneration, aging,
cancer, cardiovascular, cell physiology, toxicology and hepatobiology,
immunology, infectious diseases, mitochondrial diseases, model
organisms, obesity, diabetes, metabolic disorders, screening and
translational medicine. Founded in 2001, Seahorse is headquartered in
Billerica, Massachusetts, U.S., and has regional offices in Copenhagen,
Denmark, and Shanghai, China. For more information, visit www.seahorsebioscience.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A), a global leader in life sciences,
diagnostics and applied chemical markets, is the premier laboratory
partner for a better world. Agilent works with customers in more than
100 countries, providing instruments, software, services and consumables
for the entire laboratory workflow. The company generated revenues of
$4.0 billion in fiscal 2014 and employs about 12,000 people worldwide.
Agilent marks its 50th anniversary in analytical
instrumentation this year. 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 estimates and
projects of financial results; planned new products; the anticipated
closing date of the acquisition; and the expected benefits of the
acquisition on Agilent’s business and operations. 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;
unforeseen changes in the currency markets; customer purchasing
decisions and timing; receipt of regulatory approvals and satisfaction
of closing conditions; and the risk that we are not able to realize the
expected benefits from acquisition activities.
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 July 31, 2015.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150909006428/en/
Source: Agilent Technologies Inc.
EDITORIAL CONTACTS:
Agilent:
Michele Drake, +1
408-345-8396
Corporate
michele_drake@agilent.com
Victoria
Wadsworth-Hansen, +1 408-553-2005
Business
victoria.wadsworth-hansen@agilent.com
or
Seahorse
Bioscience:
Naomi Goumillout
ngoumillout@seahorsebio.com
or
INVESTOR
CONTACT:
Agilent
Alicia Rodriguez, +1 408-345-8948
alicia_rodriguez@agilent.com