Dako is one of the leading global providers of cancer diagnostics tools.
–Acquisition will strategically complement Agilent’s research technologies and will accelerate growth in rapidly expanding segments of diagnostic markets.
–Significantly increases base of recurring revenues.
–All-cash deal is largest in Agilent’s history.
Expected to be immediately accretive to Agilent earnings on a non-GAAP basis.
Agilent Technologies Inc. and EQT, the Sweden-based private equity group, today announced the execution of a definitive agreement for Agilent to acquire Dako, the Denmark-based cancer diagnostic company. The $2.2 billion acquisition (on a debt-free basis) is the largest in Agilent’s history.
Dako’s products are sold in more than 100 countries, and in 2010 its annual revenue was approximately $340 million (USD). The company employs more than 1,000 people, primarily in Denmark, in Carpinteria, Calif., and other parts of the world. The acquisition is expected to close within the next 60 days, subject to the satisfaction of customary closing conditions.