Stratagene (NASDAQ:STGN)
Historical Stock Chart
From Jun 2019 to Jun 2024
Agilent Technologies Inc. (NYSE:A) today announced that it has signed a
definitive agreement with Stratagene Corp. (NASDAQ:STGN) to acquire the
developer, manufacturer and marketer of specialized life science
research and diagnostic products.
Under the terms of the agreement, each share of Stratagene common stock
will be converted into the right to receive a cash payment of $10.94.
The acquisition is expected to be closed in approximately 90 days,
subject to certain closing conditions.
Stratagene’s products are used by scientists
in academia, government research and industry in molecular biology,
genomics, proteomics, drug discovery and toxicology. Stratagene’s
portfolio includes reagents for life science research and instruments.
The company also offers a range of diagnostics products, including
applications for allergy testing and urinalysis.
The acquisition of Stratagene is expected to broaden the customer base
for both Agilent and Stratagene.
“We see Stratagene’s
technology, products and expertise as being highly complementary to
Agilent’s life sciences portfolio, enabling us
to offer our customers more complete workflow solutions,”
said Nick Roelofs, vice president and general manager of Agilent’s
Life Sciences Solutions Unit. “Stratagene has
a strong R&D team as well as excellent presence in the important
academic and government markets.”
Founded in 1984, Stratagene is based in La Jolla, Calif. The company
employs more than 400 employees worldwide, who are expected to join
Agilent. Major company locations are Garden Grove, Calif.; Cedar Creek,
Texas; Edinburgh, Scotland; Tokyo, Japan; and Amsterdam, the Netherlands.
More information about Stratagene is available at www.stratagene.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
19,000 employees serve customers in more than 110 countries. Agilent had
net revenue of $5.0 billion in fiscal year 2006. Information about
Agilent is available on the Web at www.agilent.com.
Forward-Looking Statements
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, information regarding Stratagene’s
technological expertise and its enhancement of our product portfolio,
information regarding the contribution Stratagene would make to Agilent’s
ability to address customer demands, and the ability of Agilent to
provide improved products, services and support to its customers
following the closing. 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 risks associated with the ability to effectuate the
acquisition on a timely basis, risks associated with changes in demand
for Agilent’s and Stratagene’s
products, risks associated with the timing of completion of the
acquisition and risks associated with the development generally of
Agilent’s overall strategic objectives.
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 on our markets and our ability to conduct
business; the ability to improve asset performance to adapt to changes
in demand; the ability to successfully introduce new products at the
right time, price and mix and other risks detailed in Agilent’s
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-K for the period ended October 31, 2006 and its
Quarterly Report on Form 10-Q for the period ended January 31, 2007.
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.
NOTE TO EDITORS: Further technology, corporate citizenship and executive
news is available on the Agilent news site at www.agilent.com/go/news.