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US: Agilent to acquire BioTek instruments for $1.17B

 |  July 11, 2019

Agilent Technologies said today that it has agreed to acquire privately held life science instrumentation manufacturer BioTek Instruments for $1.17 billion in cash.

With anticipated tax benefits for Agilent, the net purchase price is expected to be approximately $1.05 billion. Agilent expects the transaction to be completed in its fiscal fourth quarter, subject to regulatory approvals.

Winooski, Vermont-based BioTek designs, manufactures, and sells instruments for the life science industry, including cell imaging systems, microplate readers, washers, dispensers, automated incubators, and stackers. The company generated revenues of $162 million in 2018, and is expected to grow approximately 10 percent in 2019, Agilent noted.

Full Content: Bloomberg

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