Agilent Technologies Completes Acquisition of Varian
Santa Clara, CA (Scicasts) - Agilent Technologies has announced that its acquisition of scientific-equipment maker Varian is now final. According to the announcement, 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.
Agilent and Varian announced they had signed a definitive agreement for the acquisition on July 27, 2009.