Agilent to acquire BioTek, expanding its position in growing cell analysis segment
Agilent Technologies Inc will acquire BioTek for $1.165 billion.
Privately-owned BioTek is a global leader in the design, manufacture and distribution of innovative life science instrumentation. The company’s comprehensive product line consists of cell imaging systems, microplate readers, washers, dispensers, automated incubators and stackers.
In the fiscal year 2018 ending December 31, BioTek garnered revenues of $162 million. It is likely to grow by approximately 10% in 2019.
Mike McMullen, President and CEO, Agilent, said, “BioTek represents a strong strategic fit with Agilent. The combination of these two companies will accelerate our multi-year growth strategy to expand our position in cell analysis. This is another example of Agilent investing in high-growth segments of the life sciences market to serve new and existing customers. Agilent is committed to continuing operations in Vermont and retaining the great team of nearly 500 employees that have been at the core of BioTek’s 50-year history of excellence and success.”
Agilent had forayed into the cell analysis segment in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialized instruments and live-cell, kinetic assays.
Jacob Thaysen, President of Agilent’s Life Sciences and Applied Markets Group, stated, “By combining BioTek’s offerings with Agilent’s, we will deliver a breadth of differentiated workflows, enabling customers to obtain deeper, more reliable insights across a variety of cell analysis applications.”
“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,” he added.