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Agilent Technologies Inc.. (5/22/18). "Press Release: Agilent Signs Agreement to Acquire Assets from Young In Scientific Co. Ltd.". Santa Clara, CA.

Region Region Korea, Republic of
Organisations Organisation Agilent Technologies Korea Ltd.
  Organisation 2 Young In Scientific Co., Ltd. (YI Scientific)
Products Product analytical instrument
  Product 2 analytical services
Index terms Index term Young In Group–Agilent: investment, 201805–201808 acquisition €na of Agilent-related business from former long-term Korean distributor YI Scientific
  Index term 2 Young In Group–Agilent: analytical instruments, –201805 distribution in South Korea by YI Scientific long-term until 5/18
Persons Person McDougell, Doug (Agilent 201603 VP + General Manager Agilent CrossLab Services + Support division)
  Person 2 Wadsworth-Hansen, Victoria (Agilent 201506 Director Global Business Public Relations)
     


Acquisition Expands Direct Capabilities in Growing South Korean Market


Agilent (NYSE:A) today announced that it has signed a definitive agreement to acquire the Agilent-related business from Young In Scientific Co. Ltd. ("YI Scientific"). YI Scientific is a leading distributor of analytical and scientific instruments in South Korea and a long-time distributor of Agilent instruments and services.

Founded in 1976, YI Scientific has grown into one of the largest distributors of analytical instruments, solutions and services in South Korea. Once the acquisition is final, former YI Scientific customers of Agilent products and related services in the South Korean market can look forward to an integrated sales and service portfolio directly from Agilent.

"YI Scientific has built a strong sales channel for Agilent products and services over many years," said Lon Justice, Agilent's vice president Laboratory Solutions Sales and Marketing. "Joining forces with our long-standing channel partner in South Korea provides Agilent with a solid foundation to address the needs of the growing analytical market in South Korea."

"We are very committed to growing our service business in South Korea," said Doug McDougall, Agilent's vice president and general manager, Services and Support Division. "Together with YI Scientific, we believe we can provide an even better customer experience by streamlining processes and delivering top-tier service in a consistent way."

More than 100 employees from Young In and its affiliates are expected to join Agilent Technologies Korea Limited when the acquisition is final.

The transaction is subject to customary closing conditions. Financial terms of the deal are not being disclosed.


About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics, and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions, and people provide trusted answers to its customers' most challenging questions. The company generated revenues of $4.47 billion in fiscal 2017 and employs 14,200 people worldwide. Information about Agilent is available at www.agilent.com.


Forward-Looking Statements

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, information regarding Agilent's future revenue, earnings and profitability; planned new products; market trends; the future demand for the company's products and services; customer expectations; and revenue and non-GAAP earnings guidance for the second quarter and full fiscal year 2018. 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 strength of our customers' businesses; unforeseen changes in the demand for current and new products, technologies, and services; unforeseen changes in the currency markets; customer purchasing decisions and timing, and the risk that we are not able to realize the savings expected from integration and restructuring activities. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of our supply chain to adapt to changes in demand; 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 first quarter ended January 31, 2018. 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.


Editorial Contacts

Victoria Wadsworth-Hansen (Business)
+1 408 553 2005
+ 45 29336980
victoria.wadsworth-hansen@agilent.com

Stefanie Notaney (Enterprise)
+1 408 345 8955
stefanie.notaney@agilent.com

Investor Contact

Alicia Rodriguez
+1 408 345 8948
alicia_rodriguez@agilent.com

   
Record changed: 2018-05-28

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