Bruker and Agilent Technologies Announce Agreement for Bruker to Acquire Certain Varian Inc. Product Lines
March 09 2010 - 4:03PM
Business Wire
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 include:
- Varian’s global inductively
coupled plasma mass spectrometry (ICP-MS) instruments business
located in Melbourne, Australia;
- Varian’s global laboratory gas
chromatography (Lab GC) instruments business located in Middelburg,
the Netherlands; and
- Varian’s 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.
Bill Sullivan, 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
leadership.”
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
Bruker 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
www.bruker.com.
About Agilent Technologies
Agilent 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
Any 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.
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