Agilent to Acquire Dako for $2.2 Billion Acquisition is Next Step in Agilent's Growing Role in Clinical Diagnostics
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...