Cobalt’s portfolio of solutions accelerates entry into high-growth
Raman spectroscopy market and expands Agilent’s value proposition for
pharmaceutical and biopharma customers
SANTA CLARA, Calif.--(BUSINESS WIRE)--Jul. 7, 2017--
Agilent Technologies Inc. (NYSE:A) today announced it has acquired
Oxfordshire, U.K.-based Cobalt Light Systems (“Cobalt”), a provider of
highly differentiated Raman spectroscopic instruments for the
pharmaceutical industry, applied markets and public safety.
Cobalt’s innovative suite of benchtop and handheld/portable Raman
spectroscopic instruments are based on proprietary technologies that
enable through-barrier identification of chemicals and materials.
Traditional solutions based on conventional spectroscopy have limited
capacities for detection of materials through sealed, non-transparent
containers and are constrained to near-surface identification of
materials such as pharma tablet coatings and containers. By enabling
measurement through opaque barriers and surfaces, Cobalt’s solutions can
analyze whole tablets or inside sealed containers reducing the need for
quarantines and time-consuming sample processing and testing in
pharmaceutical QC, hazardous chemical ID and security. The result is
significant time, cost, and resource savings for customers as well as
increased safety for certain market segments such as first responders or
air passengers.
Cobalt’s customers include more than 20 of the largest 25 global
pharmaceutical companies, and more than 75 airports across Europe and
Asia-Pacific, including eight of the 10 largest European airports, with
over 500 devices deployed at airport checkpoints. Recently, Cobalt has
entered the hazardous substances markets with its handheld platform.
“Raman spectroscopy is one of the fastest-growing segments in
spectroscopy,” said Phil Binns, vice president and general manager of
Agilent’s Spectroscopy and Vacuum Solutions Division. “This acquisition
gives our customers access to state-of-the-art Raman spectroscopy
technology. It also provides Agilent immediate entry into this
fast-growing segment with a highly competitive, differentiated offering.”
“This is exactly the type of acquisition that Agilent’s strategy calls
for – one that expands our market share and provides immediate benefits
to our customers,” said Patrick Kaltenbach, president of Agilent’s Life
Sciences and Applied Markets Group. “We’re focused on delivering
best-in-class solutions to our customers, and Cobalt’s Raman
spectroscopy product and team meet and exceed that criterion.”
“Cobalt and Agilent have similar cultures focused on customer-centric
innovation,” Cobalt CEO Paul Loeffen said. “The combination of Cobalt’s
patented technologies with Agilent’s product-development expertise,
manufacturing capabilities, channels and customer base will allow us to
scale our operations to take advantage of this rapidly growing market.”
Agilent is acquiring Cobalt for £40 million in cash.
Cobalt is privately held with 52 employees. Cobalt’s CEO will remain
with Agilent as the Director of Raman Spectroscopy. Oxford will
become Agilent’s global center for Raman spectroscopy. Cobalt has
received numerous prestigious awards since the company was founded in
2008 including The Queen’s Award for Enterprise in 2015 and the 2014
Royal Academy of Engineering MacRobert Award. It was also ranked as one
of the U.K.’s fastest-growing technology companies in 2014.
About Cobalt
Cobalt develops innovative products and technologies for noninvasive,
through-barrier chemical analysis, for applications in airport security,
hazardous-chemical identification and pharmaceutical QC. Cobalt’s
proprietary technologies use novel variants of Raman spectroscopy.
Cobalt’s instruments can rapidly and accurately identify materials
hidden inside objects or through opaque barriers such as plastic,
colored glass, paper and skin, or can measure the concentrations of
materials in mixtures, with a high degree of accuracy. Founded in 2008
as a spin-out from the UK Science and Technology Facilities Council
(STFC) Rutherford Appleton Laboratory, Cobalt is headquartered in
Oxfordshire, U.K., with offices in Reston, Virginia, U.S., and Hong
Kong. For more information, visit www.Cobaltlight.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE:A), is a global leader in analytical
laboratory technologies. With more than 50 years of insight and
innovation, our instruments, software, services, solutions and people
provide trusted answers to our customers’ most challenging questions.
The company generated revenues of $4.20 billion in fiscal 2016 and
employs about 13,000 people worldwide. Information about Agilent is
available at www.agilent.com.
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Source: Agilent Technologies Inc.
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