Agilent plans to acquire BioTek Instruments

Agilent to strengthen its leadership position in growing jail cell analysis segment with BioTek Instruments

Agilent Technologies announced that it has signed a definitive understanding to acquire privately-owned BioTek Instruments for US$ 1.165 billion (approximately Rs 8036 crore). With anticipated tax benefits for Agilent, the cyberspace buy price is expected to be approximately US$ 1.05 billion (Rs 7243 crore).

California-headquartered Agilent Technologies has a global presence including India. The company was established in 1999 equally a spin-off from Hewlett-Packard and provides belittling instruments, software, services and consumables for the entire laboratory workflow. Agilent focuses its products and services on six market place segments such as nutrient, ecology and forensics, pharmaceutical, diagnostics, chemical and free energy, and research.

BioTek is a global leader in the design, manufacture and distribution of innovative life science instrumentation. Its comprehensive production line includes cell imaging systems, microplate readers, washers, dispensers, automatic incubators and stackers. These products are said to enable life science enquiry by providing customers with high performance, toll-constructive analysis across various applications. BioTek generated revenues of US$ 162 1000000 (approximately Rs 1117 crore) in fiscal year 2022 ending 31 December, and is expected to abound approximately ten% in 2019.

The transaction is expected to exist completed in Agilent's fiscal 4th quarter of this yr, subject to regulatory approvals and customary closing conditions. Agilent expects the conquering volition be accretive to not-GAAP earnings for a share, contributing US$ 0.02 – 0.04 (Rs one.38 -2.78) for financial year 2020, and compounding growth thereafter.

"BioTek represents a strong strategic fit with Agilent," said Mike McMullen, Agilent president and chief executive officer. "The combination of these two companies will advance our multi-year growth strategy to expand our position in jail cell assay. This is another instance of Agilent investing in loftier-growth segments of the life sciences market to serve new and existing customers. Agilent is committed to continuing operations in Vermont and retaining the neat team of near 500 employees that accept been at the cadre of BioTek's l-year history of excellence and success."

"BioTek and Agilent take already been in partnership for over a twelvemonth, successfully unlocking significant value through articulation evolution of customer solutions," said Briar Alpert, main executive officer of BioTek. "Both companies share the same focus on customers and employees, besides equally a similar purpose, mission and values. I am confident that this is the winning formula for our employees and customers around the globe."

Expanding portfolio and leadership in cell assay

Agilent entered the cell analysis segment in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialized instruments and live-cell, kinetic assays. Agilent Seahorse XF technology was said to be a bound in the development of cellular metabolism analysis, allowing researchers to better understand metabolic profiles in live cells.

In January 2018, Agilent broadened its portfolio of cell analysis solutions through the acquisition of Luxcel Biosciences. Luxcel'southward assays use soluble sensors to analyze metabolism, making them a good complement to Agilent's Seahorse XF technology, providing researchers with more options to clarify alive-jail cell metabolism.

In September 2018, Agilent differentiated its portfolio further through the acquisition of Acea Biosciences, a pioneer in the development and commercialization of loftier-performance prison cell analysis platforms for life science research. Upon closing, the size of Agilent'south jail cell assay business organization will be in backlog of U.s.a.$ 250 meg (approvimately Rs 1724 crore) in annual revenues.

"By combining BioTek's offerings with Agilent's, nosotros will deliver a latitude of differentiated workflows, enabling customers to obtain deeper, more reliable insights across a diversity of cell analysis applications," said Jacob Thaysen, president of Agilent'south Life Sciences and Applied Markets Group. "This positions Agilent well in the large and growing immuno-oncology and immunotherapy markets and expands our presence in biopharma, academia and research as customers seek to understand complex cellular environments and interactions."

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