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Agilent (A) To Buy Denmark Cancer Diagnostic Co To Boost Life Science Presence

 May 17, 2012 07:15 AM

Agilent Technologies Inc. (NYSE:A) is acquiring Denmark-based cancer diagnostic company Dako for $2.2 billion to boost its presence in life science.

The Santa Clara, California-based provider of bio-analytical and electronic measurement services expects the deal to immediately add to its earnings on a non-GAAP basis.

Agilent said the acquisition will accelerate growth in rapidly expanding segments of diagnostic markets.

Dako, with 2010 revenue of around US$340 million, provides antibodies, reagents, scientific instruments and software. Through Dako's Reagent partnership division, Dako sells a portfolio of specific proteins and high-quality reagents for flow cytometry.

[Related -Agilent (A) Options Active As Shares Hit Highest Since '01]

The transaction is expected to be completed within the next 60 days.

Credit Suisse Securities LLC was Agilent's exclusive financial advisor in the transaction.

Agilent shares ended Wednesday's regular trading at $39.76. The stock has been trading in the 52-week range between $28.67 and $52.62.

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