Agilent Technologies has signed a definitive agreement to acquire privately-owned Biotek Instruments for $ 1.165 billion. With anticipated tax benefits for Agilent, the net purchase price is expected to be approximately $ 1.05 billion.
Santa Clara/USA — Biotek is a global leader in the design, manufacture and distribution of innovative life science instrumentation. Its comprehensive product line includes cell imaging systems, microplate readers, washers, dispensers, automated incubators and stackers. These products enable life science research by providing customers with high performance, cost-effective analysis across diverse applications. Biotek generated revenues of $ 162 million in fiscal year 2018 ending December 31 and is expected to grow approximately 10 % in 2019.
The transaction is expected to be completed in Agilent’s fiscal fourth quarter of this year, subject to regulatory approvals and customary closing conditions.
The company 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 a leap in the evolution of cellular metabolism analysis, allowing researchers to better understand metabolic profiles in live cells.
In January 2018, the company broadened its portfolio of cell analysis solutions through the acquisition of Luxcel Biosciences. Luxcel’s assays use soluble sensors to analyze metabolism, making them a perfect complement to their Seahorse XF technology, providing researchers with more options to analyze live-cell metabolism.
In September 2018, the company differentiated its portfolio further through the acquisition of ACEA Biosciences, a pioneer in the development and commercialization of high- performance cell analysis platforms for life science research. Upon closing, the size of Agilent’s cell analysis business will be in excess of $ 250 million in annual revenues.