Agilent Completes Acquisition of Young In Scientific Co. Ltd. Assets
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Agilent Technologies Inc. (NYSE: A) today announced that it has completed its acquisition of the Agilent-related business from Young In Scientific Co. Ltd. and its affiliates (“YI Scientific”). YI Scientific is a leading distributor of analytical and scientific instruments in South Korea and a long-time distributor of Agilent instruments and services.
Agilent and YI Scientific have enjoyed a strong partnership over many years. This acquisition expands Agilent’s direct capabilities in the growing South Korean market with an experienced and knowledgeable team. Customers of Agilent products and related services in the South Korean market will now have access to an integrated sales and service portfolio directly from Agilent.
“Over the years, we have gotten to know the Young In Scientific team focused on Agilent products and services well, and we are pleased to be adding such a high-caliber team to our direct capabilities,” said Nino Totino, Agilent’s vice president South Asia Pacific and Korea. “Our newly-combined team will be well-positioned to provide customers with an excellent customer experience. Together, we are looking forward to helping our customers advance their science and achieve superior outcomes by delivering quality products and services as one unified team.”
Approximately 118 employees from YI Scientific and its affiliates are expected to join Agilent. Financial terms of the deal are not being disclosed.
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 14,500 people worldwide. Information about Agilent is available at www.agilent.com.
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, statements regarding the capabilities and expertise the acquisition brings, the ability to supply industry requirements and acceleration of growth. 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, retain key employees, meet customer expectations and realize efficiencies from the combined businesses. 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 quarter ended April 30, 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.
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Source: Agilent Technologies Inc.