Full Press Release Details
Agilent Technologies Announce Agreement for Bruker to Acquire Certain Varian
BILLERICA, Massachusetts and SANTA CLARA,
California March 9, 2010 Bruker Corporation (NASDAQ: BRKR) and Agilent
Technologies, Inc. (NYSE:A) announced today that Bruker and Agilent have
entered into a definitive asset purchase agreement. Pursuant to this agreement, Bruker will
acquire certain product lines of Varian Inc., which Agilent has committed to
divest in connection with obtaining regulatory approval for Agilent s
previously announced acquisition of Varian.
The product lines to be acquired by Bruker
global inductively coupled plasma mass spectrometry (ICP-MS) instruments
business located in Melbourne, Australia;
global laboratory gas chromatography (Lab GC) instruments business located in
Middelburg, the Netherlands; and
global gas chromatography triple-quadrupole mass spectrometry (GC-QQQ)
instruments business located in Walnut Creek, California.
The transaction is subject to customary closing
conditions and regulatory approvals, and is expected to close shortly after
Agilent completes its acquisition of Varian (which Agilent anticipates to occur
by April 30, 2010, following the completion of regulatory reviews and
clearances). There is no financing condition to closing the transaction. Transaction pricing was not disclosed; the
transaction is not material to Agilent.
In connection with the transaction, Agilent and
Bruker also intend to enter into a transitional services agreement and a supply
agreement to facilitate the uninterrupted delivery of high-quality products and
services to new and existing customers of these three businesses. After the closing of the acquisition, Bruker
intends to continue to operate these businesses from facilities located in
Victoria, Australia, in The Netherlands and in Northern California, and to
retain key management, research and development, operations, sales and
marketing, as well as applications and service personnel in each of the
businesses. The acquired product lines are expected to benefit from integration
with Bruker s existing country sales offices, applications laboratories and
service centers worldwide.
Agilent President and CEO, stated: The agreement to sell these businesses to
Bruker is an important milestone toward completing our acquisition of Varian.
While we would have liked to have been able to keep all of these businesses, we
are pleased that they will be operated under the strength of Bruker s
Frank Laukien, Bruker
President and CEO, commented on the transaction: These three businesses offer
an opportunity to leverage our existing strengths in the analytical instruments
market. The three new product lines will
form the core offerings in a newly established Bruker Chemical Analysis
Division with an experienced and dedicated
management team. We welcome the very capable Varian teams that
have led the growth of these businesses in Melbourne, the Netherlands,
California, and in the international field organizations to Bruker. Most importantly, we are very much looking
forward to welcoming the customers of the present Varian Lab GC, GC-QQQ and
ICP-MS products to Bruker, and we are committed to providing the highest level
of applications and service support, as well as accelerated applications and
product development to this customer base.
About Bruker Corporation
Corporation is a leading provider of high-performance scientific instruments and
solutions for molecular and materials research, as well as for industrial and
applied analysis. For more information about Bruker Corporation, please visit
About Agilent Technologies
Technologies Inc. (NYSE: A) is the
world s premier measurement company and a technology leader in communications,
electronics, life sciences and chemical analysis. 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.
CAUTIONARY STATEMENT
statements contained in this press release that do not describe historical
facts may constitute forward-looking statements as that term is defined in the
Private Securities Litigation Reform Act of 1995. Any forward-looking
statements contained herein, which include, but are not limited to, our
expectations for the timing of the closing of the Agilent-Bruker transaction
and Agilent s expectations for the timing of the closing of the Agilent-Varian
transaction, are based on current expectations, but are subject to risks and
uncertainties, that could cause actual future results to differ materially from
those projected. These include, but are
not limited to, the receipt of final
regulatory approvals, satisfaction of other closing conditions, and such other
risks as identified, with respect to Bruker, in Bruker s annual report on Form 10-K for the year ended December 31,
2008 and its most recent quarterly reports on Form 10-Q and current
reports on Form 8-K and, with respect
to Agilent, in Agilent s Annual Report on Form 10-K for the fiscal year
ended October 31, 2009. Neither
Bruker nor Agilent assumes any obligation to update these forward-looking
statements other than as required by law.
FURTHER INFORMATION:
Stacey Desrochers, Bruker Director of Investor
+1 (978) 663-3660, ext. 1115
Amy Flores, Agilent Technologies Media Relations