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Agilent Technologies Inc.. (5/14/10). "Press Release: Agilent Technologies Completes Acquisition of Varian, Inc., Marking Historic Milestone for Two Silicon Valley Pioneers. Combined Strenghts Position Agilent for Leadership". Santa Clara, CA.

Organisation Organisation Varian Inc. (Nasdaq: VARI)
Products Product laboratory equipment and instruments
  Product 2 NMR spectroscopy
Index term Index term Varian–Agilent: investment, 200907–201005 acquisition $1.5b in cash $52/share
Persons Person Sullivan, William (Bill) (Agilent 200611 President + CEO to RESIGN 3/15 + stay as advisor until retirement 10/15)
  Person 2 McMullen, Mike (Agilent 201409– COO + designated CEO for 3/15 before SVP + President Chemical Analysis Group)
     


Agilent Technologies Inc. (NYSE: A) today announced that its acquisition of scientific-equipment maker Varian, Inc. is now final, positioning Agilent as a leading provider of analytical instrumentation to the applied and life sciences markets. Agilent paid approximately $1.5 billion in cash for Varian in a deal that brings together two Silicon Valley pioneers.

Bill Sullivan, Agilent president and CEO, said, "The Varian acquisition -- the largest in our company's history -- furthers our evolution toward becoming a global leader in bio-analytical measurement. We're gaining tremendous talent and technology. And for our customers, this will mean a broader span of expertise, applications and products from one trusted company."

The majority of Varian's product lines will report into Agilent's Chemical Analysis Group (CAG), while some key businesses will be housed within Agilent's Life Sciences Group (LSG).

"This strengthens our leading position in the chemical analysis market," said Mike McMullen, Agilent senior vice president and president of CAG. "The acquisition is a key strategic move for us in the chemical analysis arena, and will serve to fuel our growth trajectory and provide more value to our customers. We will also add a new vacuum technologies business to Agilent, which will continue to operate as a standalone business unit within Agilent."

McMullen added, "Varian's products and applications expertise complement our offerings by providing a more complete spectroscopy, consumables and services portfolio to our customers."

A significant new business Agilent gains through the acquisition is Research Products (including NMR, or nuclear magnetic resonance, MRI and X-ray), which will reside in LSG.

"These technology platforms will open new doors for Agilent and its customers," said Nick Roelofs, Agilent senior vice president and president of LSG. "This technology will play a key role in Agilent's growth through applications such as pharmaceutical and therapeutics.

"In addition, Agilent can build on its expertise as the worldwide leader in radio frequency [RF] and electromagnetic transmit-and-receive technology by being the first to bring that expertise to the field of magnetic resonance," he said.

Agilent and Varian announced they had signed a definitive agreement for the acquisition on July 27, 2009.


About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is the world's premier measurement company and a technology leader in chemical analysis, life sciences, electronics and communications. The company's 16,000 employees serve customers in more than 110 countries. Agilent had net revenues of $4.5 billion in fiscal 2009. Information about Agilent is available on the Web at www.agilent.com.

# # #

Contact:

Amy Flores, Corporate
+1 650 283-2413 (mobile)
+1 408 345 8194
amy_flores@agilent.com

Eric Endicott, Life Sciences and Chemical Analysis
+1 408 623-2777 (mobile)
+1 408 553 2005
eric_endicott@agilent.com

Investor Contact:

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

   
Record changed: 2016-03-19

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