Agilent Technologies Inc. has closed an approximately $1.17 billion acquisition of fellow life science tools maker BioTek Instruments Inc. effective Aug. 26.
Santa Clara, Calif.-based Agilent expects BioTek to contribute about $20 million to $25 million in fourth quarter revenues, according to an Aug. 26 news release. No material impact is expected on Agilent's fourth quarter EPS.
Agilent said it purchased Winooski, Vt.-based BioTek to expand its cell analysis capabilities, capitalizing on the growing field of immuno-oncology and immunotherapy. BioTek engineers cell imaging systems, test-tube plate readers, incubators, and other equipment for research and drug discovery purposes.
"The combination of our two companies and our collective offerings will help lead to a better understanding of cell function, behavior and interactions," Agilent CEO Mike McMullen said in the release.
