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Agilent Technologies Inc.. (5/7/18). "Press Release: Agilent Completes Acquisition of Lasergen, Inc.". Santa Clara, CA.

Organisation Organisation LaserGen Inc.
Products Product DNA sequencing technology
  Product 2 Lightning Terminators™
Index terms Index term LaserGen–Agilent: investment, 201804–201805 acquisition remaining 52% for $105m
  Index term 2 LaserGen–Agilent: investment, 201603 acquisition 48% share for $80m plus option to acquire remaining share for $105m until 2 March 2018
Person Person Vijay, Kamni (Agilent 201710 VP + General Manager Genomics Solutions + Clinical Applications divisions)
     


Agilent Technologies Inc. (NYSE: A) today announced that it has completed the acquisition of Lasergen, Inc. (Lasergen), an emerging biotechnology company focused on research and development of innovative technologies for DNA sequencing.

In March 2016 Agilent made an initial investment in the Houston, Texas based privately-held company to acquire a 48-percent ownership stake with a two-year call option to acquire the remaining shares for $105 million. Agilent gave its notice of exercise on February 23, 2018.

"We are pleased to complete our acquisition of Lasergen," said Sam Raha, president of Agilent's Diagnostics and Genomics Group. "We are excited to welcome our Lasergen colleagues to the Agilent family, and look forward to continuing our work as one team focused on building a next-generation sequencing workflow for clinical applications."

Since Agilent's initial investment, Lasergen and Agilent have been collaborating to develop a workflow solution for clinical applications based on next-generation sequencing leveraging Lasergen's Lightning Terminators™ chemistry.

"In 2016 we began our collaboration with Lasergen that reinforced our confidence in the team and technology," said Kamni Vijay, vice president and general manager of Agilent's Genomics division. "As a unified team, we now have new opportunities to leverage our combined strengths and create significant value for our customers as we work towards our goal of creating an integrated clinical workflow solution and providing more labs with access to molecular diagnostics."


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: 2018-05-14

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