Agilent Technologies Inc. (A) agreed to pay $2.2 billion in cash
to acquire the Denmark cancer-diagnostic company Dako from
private-equity group EQT as the testing-and-measuring equipment
maker looks to expand its presence in the clinical diagnostics
market.
Agilent expects to close the deal within 60 days and said it
should immediately add to earnings.
Dako primarily provides antibodies, reagents, scientific
instruments and software to pathology laboratories and also
collaborates with pharmaceutical companies to develop potential
pharmacodiagnostics, which may be used to identify patients most
likely to benefit from a specific targeted therapy.
Dako employs more than 1,000 people and had 2010 revenue of
about $340 million.
Agilent's core results have improved over the past year as newly
introduced products and an expanding geographic reach drives its
revenue growth. The company on Monday reported its fiscal
second-quarter profit rose 28% as net revenue increased 3.3%, led
by its electronic measurement segment.
Shares closed Wednesday at $39.76 and were inactive premarket.
The stock has risen 14% so far this year.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283;
melodie.warner@dowjones.com