Agilent To Acquire Multiplicom, A Leading European Diagnostics Company With State-Of-The-Art Genetic Testing Technology And Products
SANTA CLARA, Calif. & NIEL, Belgium--(BUSINESS WIRE)--Agilent Technologies Inc. (NYSE:A) and Multiplicom N.V. today announced that they have signed a definitive agreement under which Agilent will acquire Multiplicom, a leading European diagnostics company with state-of-the-art genetic testing technology and products.
“Multiplicom’s products and technology help expand our target-enrichment portfolio and enhance our next-generation sequencing workflow capabilities – providing immediate scale in adjacent markets.”
Multiplicom, headquartered in Niel, Belgium, develops, manufactures and commercializes molecular-diagnostic solutions, provided as kits, which enable personalized medicine. Specifically, these solutions enable clinical labs to identify the DNA variants that are associated with a genetic disease or predisposition in patients, or that may steer cancer therapy or identify congenital defects early in pregnancy.
“The acquisition of Multiplicom significantly strengthens our presence in the genomics market,” said Herman Verrelst, vice president and general manager of Agilent’s Genomics Division. “Multiplicom’s products and technology help expand our target-enrichment portfolio and enhance our next-generation sequencing workflow capabilities – providing immediate scale in adjacent markets.”
“Multiplicom is excited to be a part of Agilent and for the opportunity to offer our products and technology to a global customer base,” said Dirk Pollet, Multiplicom’s CEO. “We are also immensely grateful to our investors Gimv, PMV, Qbic, RMM, University of Antwerpen and VIB for their unwavering support from Day One.”
Agilent is acquiring Multiplicom for approximately €68 million in cash. The acquisition is expected to be completed by mid-January, subject to local laws and regulations and customary closing conditions. Multiplicom employs about 90 people, all of whom will be offered employment opportunities with Agilent.
About Multiplicom N.V.
Multiplicom N.V. develops, manufactures and commercializes molecular diagnostic solutions, provided as kits, which enable personalized medicine. Founded in 2011 as a spin-off from the University of Antwerp (Belgium) and VIB (Flanders Institute of Biotechnology), Multiplicom achieved CE-IVD certification for the BRCA MASTR Dx assay for breast and ovarian cancer predisposition in 2012. It was the first company in Europe to achieve a BRCA CE-IVD certification and it continues to develop and market quality controlled NGS-based assays. Therefore, it enables clinical laboratories to identify the DNA variants that are associated with a genetic disease or predisposition in patients, or that may steer cancer therapy or to identify congenital defects early in pregnancy. For more information, visit www.Multiplicom.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A), a global leader in life sciences, diagnostics and applied chemical markets, is the premier laboratory partner for a better world. Agilent works with customers in more than 100 countries, providing instruments, software, services and consumables for the entire laboratory workflow. Agilent generated revenue of $4.20 billion in fiscal 2016. The company employs about 12,500 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 expansion of Agilent's product portfolio and the ability to deliver broader value for customers, expansion into additional accounts and markets, the anticipated closing date of the acquisition, and the expected benefits of the acquisition to Agilent's business and operations. 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: unforeseen changes in the demand for current and new products, technologies, and services; customer purchasing decisions and timing; satisfaction of closing conditions; and the risk that we are not able to realize the expected benefits from acquisition activities.
In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; ongoing competitive, pricing and gross-margin pressures; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; 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 July 31, 2016. 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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Agilent Technologies Inc.
Rekha Parthasarathy, +1 408-345-8396
Victoria Wadsworth-Hansen, +45 2933 6980
Alicia Rodriguez, +1 408-345-8948
Dirk Pollet, +32 3 289 14 00