Agilent to Acquire BioTek Instruments for $1.17 Billion
11 July 2019 - 10:48PM
Dow Jones News
By Michael Dabaie
Agilent Technologies Inc. (A) said it would acquire
privately-owned BioTek Instruments for $1.165 billion.
With anticipated tax benefits for Agilent, the net purchase
price is expected to be about $1.05 billion, Agilent said.
The deal is expected to be completed in Agilent's fiscal fourth
quarter. Agilent said it expects the purchase to boost adjusted
earnings per share, contributing 2 cents to 4 cents for fiscal year
2020, and compounding growth thereafter.
BioTek makes life science instrumentation, including cell
imaging systems, microplate readers, washers, dispensers, automated
incubators and stackers. BioTek's fiscal 2018 revenue was $162
million and is expected to rise about 10% in 2019, Agilent
said.
The deal expands Agilent's portfolio in cell analysis, the
company said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 11, 2019 08:33 ET (12:33 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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