Highlights:
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Acquisition advances Agilent's growth strategy
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Highly attractive business with robust growth track record and
prospects
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Combination strengthens customer value proposition with
complementary technologies and solutions
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Opportunity to accelerate expansion into adjacent businesses
SANTA CLARA, Calif.--(BUSINESS WIRE)--Mar. 7, 2018--
Agilent Technologies, Inc. (NYSE: A) today announced that it has signed
a definitive agreement to acquire privately-held Advanced Analytical
Technologies, Inc. (AATI), a provider of capillary electrophoresis-based
(CE) solutions for fully-automated analysis of a range of molecules for
$250 million in cash. This acquisition will enhance Agilent’s existing
expertise and technology, while giving customers a more comprehensive
set of solutions.
“This acquisition is another great example of Agilent effectively
deploying our capital to create value for our customers and our
shareholders. AATI’s complementary products strengthen our existing
strong portfolio of solutions and provide further opportunities to
accelerate our growth,” said Patrick Kaltenbach, president of Agilent’s
Life Sciences and Applied Markets Group.
Automated electrophoresis is a commonly used separation technique to
analyze biomolecules such as nucleic acids (RNA and DNA), proteins,
carbohydrates and small molecules. It has a broad range of applications
and is used across a variety of industries segments including pharma and
biopharma, academia and government, clinical and diagnostics, food,
environmental and forensics, and chemical and energy.
AATI has developed compelling CE technologies that provide key advances
in sensitivity and resolution to address a wide range of applications.
AATI solutions are comprised of instruments, software and consumables
aimed at simplifying complex workflows.
“Technology advances in genomics, metabolomics, and proteomics are
driving growth and demand for innovative new solutions,” said Dr. Stefan
Schuette, vice president and general manager of Agilent’s Liquid Phase
Separations Division. “The value of this acquisition is in the expanded
capabilities for emerging applications that Agilent and AATI together
can offer.”
“Each company brings expertise and a culture of innovation,” said Steven
J. Lasky, Ph.D., AATI CEO. “I believe we will be able to serve customers
better and provide even greater opportunities for our employees by
joining Agilent.”
Founded in 1998, AATI is based in Ankeny, Iowa and employs 101 employees.
The transaction is subject to customary closing conditions and
regulatory approval.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences,
diagnostics, and applied chemical markets. With more than 50 years of
insight and innovation, Agilent instruments, software, services,
solutions, and people provide trusted answers to its customers' most
challenging questions. The company generated revenues of $4.47 billion
in fiscal 2017 and employs 14,200 people worldwide. 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 Agilent’s future
revenue, earnings and profitability; planned new products; market
trends; the future demand for the company’s products and services;
customer expectations; and revenue and non-GAAP earnings guidance for
the second quarter and full fiscal year 2018. 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, and the risk that we are not able to realize the
savings expected from integration and restructuring 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 annual report on Form 10-Q for the first quarter ended January 31,
2018. 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180307006464/en/
Source: Agilent Technologies, Inc.
EDITORIAL CONTACTS:
Agilent Technologies:
Victoria
Wadsworth-Hansen (Business), +1 408-553-2005
+ 45 29336980
victoria.wadsworth-hansen@agilent.com
or
Stefanie
Notaney (Enterprise), +1 408-345-8955
stefanie.notaney@agilent.com
or
INVESTOR
CONTACT:
Alicia Rodriguez, +1 408-345-8948
alicia_rodriguez@agilent.com