Agilent Technologies (Santa Clara, CA) has signed a definitive agreement to acquire life science instrumentation maker BioTek Instruments (Winooski, VT) for $1.165 billion.
BioTek's cell analysis product line includes cell imaging systems, microplate readers, washers, dispensers, automated incubators, and stackers for cost-effective analysis across diverse applications. The company generated revenues of $162 million in fiscal year 2018 ending December 31 and is expected to grow approximately 10% in 2019.
Agilent entered the cell analysis segment in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialized instruments and live-cell, kinetic assays. Agilent Seahorse XF technology was a leap in the evolution of cellular metabolism analysis, allowing researchers to better understand metabolic profiles in live cells.
In January 2018, Agilent broadened its portfolio of cell analysis solutions through the acquisition of Luxcel Biosciences, whose assays use soluble sensors to analyze metabolism. The assays complement the company's Seahorse XF technology, providing more options to analyze live-cell metabolism.
In September 2018, Agilent differentiated its portfolio further through the acquisition of ACEA Biosciences, which develops high-performance cell analysis platforms for life science research.
The BioTek transaction is expected to be completed in Agilent's fiscal fourth quarter of 2019, subject to regulatory approvals and customary closing conditions. Upon closing, the size of Agilent's cell analysis business will be in excess of $250 million in annual revenues.