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Agilent Technologies Inc.. (6/27/16). "Press Release: Agilent Technologies to Acquire Assets of iLab Solutions, Leader in Cloud-Based Laboratory Management Software". Santa Clara, CA & Boston, MA.
Agilent Technologies Inc. (NYSE: A) and iLab Solutions, LLC today announced they have signed a definitive agreement under which Agilent will acquire substantially all of the assets of iLab, the market leader in cloud-based solutions for core laboratory management. The acquisition includes iLab's technology, intellectual property and product portfolio, as well as employee talent.
A privately held company based in Boston, Mass., iLab Solutions provides laboratory management services to leading universities, research hospitals and independent institutes across the globe.
Using iLab's offerings, customers can easily and accurately book time in shared facilities to bill and invoice for projects, to manage studies, to generate reports and business intelligence, and to schedule instrument reservations across multiple projects.
"Agilent is a one-stop partner to equip, manage and serve our customers' entire laboratory," said Mark Doak, president, Agilent CrossLab Group. "Our acquisition of iLab further expands our offerings portfolio in a space we previously did not have a presence in."
"iLab's solutions are robust and scalable, allowing for expansion into large-enterprise accounts, including Pharma," he added. "With iLab's experience and outstanding enterprise-level management solutions, we will be able to immediately deliver broader value for our customers."
"Joining forces with Agilent is an excellent fit for us," said Tad Fallows, chief executive officer, iLab Solutions. "It is also a tremendous opportunity for our customers, who will benefit from integration with a broad family of solutions and a range of new applications. Together, we'll be able to further accelerate our offerings to additional markets through Agilent's global reach and leadership in multiple market segments."
The acquisition is expected to be completed in early August, subject to local laws and regulations and customary closing conditions. iLab Solutions employs nearly 70 employees and contractors, all of whom will be offered opportunities with Agilent. Financial terms of the transaction were not disclosed.
About iLab Solutions, LLC
iLab Solutions, LLC is the global leader in providing web-based core facility management services to academic research institutions. The functionality includes request management, equipment reservation and usage tracking, project tracking, billing and invoicing, and reporting. iLab has extensive experience providing enterprise-level solutions at major research institutions, including integrations with institutional financial systems and identity management systems. iLab's dedicated implementation team and full customer support result in high adoption rates. Core facilities across 150 institutions in North America, Europe and the Asia-Pacific region rely on iLab, including universities, hospitals, independent institutes and government labs. For more information, visit www.ilabsolutions.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A), a global leader in life sciences, diagnostics and applied chemical markets, is the premier laboratory partner for a better world. Agilent works with customers in more than 100 countries, providing instruments, software, services and consumables for the entire laboratory workflow. The company generated revenue of $4.04 billion in fiscal 2015 and employs about 12,000 people worldwide. Information about Agilent is available at www.agilent.com.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, statements regarding the expansion of Agilent's product portfolio and the ability to deliver broader value for customers, expansion into additional accounts and markets, the anticipated closing date of the acquisition, and the expected benefits of the acquisition to Agilent's business and operations. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to: unforeseen changes in the demand for current and new products, technologies, and services; customer purchasing decisions and timing; satisfaction of closing conditions; and the risk that we are not able to realize the expected benefits from acquisition activities.
In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; ongoing competitive, pricing and gross-margin pressures; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; and other risks detailed in Agilent's filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the quarter ended April 30, 2016. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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Victoria Wadsworth-Hansen, Agilent
+1 408 553 2005
Alicia Cravens, iLab Solutions
+1 847 792 1894
Alicia Rodriguez, Agilent
+1 408 345 8948
Record changed: 2016-07-01
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