Agilent Acquires Stratagene

Agilent Technologies, Inc. (Santa Clara, CA, USA) announced that it has signed a definitive agreement with Stratagene Corp. (La Jolla, CA, USA) 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 US$10.94. The acquisition is expected to be closed in approximately 90 days, subject to certain closing conditions.
Stratagene offers a range of diagnostics products, including applications for allergy testing and urinalysis. Its products are used by scientists in academia, in government research and industry, in molecular biology, in genomics, proteomics, drug discovery, and in toxicology. Stratagene's portfolio includes reagents for life science research and instruments. The acquisition of Stratagene is expected to broaden the customer base for both Agilent and Stratagene.
Joseph A. Sorge, chairman, CEO, and founder of Stratagene and its largest stockholder, also announced that he has formed a new company to pursue molecular diagnostic applications. The new company will purchase for $6.6 million certain assets of Stratagene from Agilent immediately following the close of the transaction and will license from Agilent certain of their molecular diagnostic technologies.
I'm looking forward to having more time to focus on research and discovery and making a difference in human healthcare, said Dr. Sorge. Our discussions with Agilent have been very friendly and cooperative, and we expect a smooth transition. I believe that we have established a relationship that will allow each of us to pursue common interests going forward.

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.


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