Agilent Technologies Adds Strength to Its Life Science Business with Acquisition of Stratagene
Agilent Technologies Inc. announced it has completed the acquisition of Stratagene Corp., a developer, manufacturer and marketer of specialized life science research and diagnostic products. Agilent expects this strategic acquisition to accelerate its growth in life sciences through a complementary product portfolio and strong market reach into academia and government.
Agilent announced the definitive agreement to acquire Stratagene on April 6, 2007. The company paid approximately $250 million for Stratagene, or $10.94 per share of common stock. Completion of this acquisition will have no impact on Agilent's earnings-per-share guidance. Agilent's revenue guidance for the third quarter is now $1.38 billion to $1.42 billion.
The Stratagene acquisition is expected to strengthen Agilent's life science offerings in genomics and proteomics, particularly in academia and government where Stratagene products and market leadership are well recognized. Meanwhile, Agilent's sales channel strength in the pharmaceutical market provides additional opportunities for expanding the reach of Stratagene's portfolio of reagents and instruments.
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