Agilent Technologies Completes Acquisition of ProZyme
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Agilent Technologies Inc. (NYSE:A) today announced that it has completed the acquisition of ProZyme, Inc., a leading provider of glycan reagents, kits and standards. This acquisition expands Agilent’s portfolio of biopharma consumables.
Founded in 1990, Hayward-Calif. based ProZyme is an industry leading developer and manufacturer of glycan reagents, kits and standards, which are required for efficient sample prep in the analysis of free glycans. Glycobiology is one of the fastest-growing segments in biopharma, as glycans play diverse roles in biotherapeutics, novel drug development, the study of bacterial physiology, and proteomics research.
The acquisition of ProZyme follows the recent acquisition of Ultra Scientific, a leading provider of chemical standards and certified reference materials.
“These acquisitions both support Agilent’s long-term strategy to provide customers with more workflow-specific consumables and solutions to help them achieve economic, operational and scientific success,” said Padraig McDonnell, vice president and general manager of Agilent’s Chemistries and Supplies Division.
“We are excited to be adding the ProZyme team and technology to our capabilities,” he continued. “Together we can accelerate the development of the solutions our customers need to advance their biopharma research.”
Financial terms of the deal are not being disclosed.
More information on ProZyme products and solutions is available at www.prozyme.com.
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.
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, the ability to integrate ProZyme’s operations with Agilent’s, 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.