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MarketScreener Homepage  >  Equities  >  Nyse  >  Agilent Technologies, Inc.    A

AGILENT TECHNOLOGIES, INC.

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Agilent Technologies : to Acquire Assets of Ultra Scientific

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05/30/2018 | 04:31pm EDT

Highlights:

  • Significant expansion of Agilent’s certified reference materials and chemical standards business
  • Enables complete workflow solutions across Agilent’s instrument platforms
  • Attractive recurring revenue business

Agilent Technologies, Inc. (NYSE: A) today announced that it has entered into a definitive agreement to acquire all the business assets of Ultra Scientific, a leading provider of chemical standards and certified reference materials.

“We identified chemical standards as a key expansion area that is essential to Agilent’s goal of being a complete workflow solutions provider,” said Mark Doak, president of Agilent’s CrossLab Group. “Chemical standards are critical to customers’ analytical laboratory workflows and used to help customers qualify the performance of their methods to validate and quantitate their results.”

Founded in 1976, Ultra Scientific manufactures and supplies an extensive catalog of certified reference materials, organic and inorganic standards, calibration standards, IQ/OQ/PQ and quality control check standards, and has rapid turn capability to meet custom solution needs. Ultra Scientific serves laboratory professionals in key end markets including environmental, food, forensics, pharmaceutical, chemical and energy, and academia and government. Agilent is one of Ultra Scientific’s largest customers.

“Ultra Scientific and Agilent are long-time strategic partners,” said Steve Cohan, vice president and general manager of Agilent’s Supplies Division. “Ultra Scientific is a unique and high-quality chemical standards company. This acquisition provides immediate core capabilities, bringing critical manufacturing and industry expertise in-house for the first time.”

“For the past forty years Ultra Scientific has been a leading supplier of analytical reference material to industry, academia, and research laboratories,” said William R. Russo, Ph.D., founder and vice president of Ultra Scientific. “Ultra’s customers have come to rely on our high quality and our expert delivery system. Today, Ultra is happy to announce that we are becoming part of Agilent Technologies, so that we may continue to supply all the requirements of the analytical field.”

“We have been working with Agilent to produce their instrument standards for more than 25 years, and I believe it is a perfect fit for our company,” said John E. Russo, president of Ultra Scientific. “Ultra has grown throughout the decades with Agilent and we look forward to the future opportunities we will have to accelerate growth together.”

Ultra Scientific is based in North Kingstown, RI, with a distribution center in Wesel, Germany. The company employs 52 employees.

The transaction is subject to customary closing conditions. Financial terms of the deal are not being disclosed.

About Ultra Scientific

Since 1976 ULTRA has been a world-wide producer and industry leader in certified reference materials and other laboratory solutions. It services the environmental, pharmaceutical, biotechnology, life science and molecular testing laboratories. ULTRA Scientific maintains ISO 9001, 17025 and ISO Guide 34 accreditations, while maintaining a DEA license and ATFE permit. ISO 13485 accreditation is in process. With its corporate headquarters just south of Providence, RI, it maintains sales offices and distribution centers in Bologna, Italy and Wesel, Germany.

About Agilent Technologies

Agilent Technologies Inc. (NYSE: A) is a global leader in life sciences, diagnostics, and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions, and people provide trusted answers to its customers' most challenging questions. The company generated revenues of $4.47 billion in fiscal 2017 and employs 14,200 people worldwide. Information about Agilent is available at www.agilent.com.

Forward-Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding Agilent’s future revenue, earnings and profitability; planned new products; market trends; the future demand for the company’s products and services; customer expectations; and revenue and non-GAAP earnings guidance for the second quarter and full fiscal year 2018. These forward-looking statements involve risks and uncertainties that could cause Agilent’s results to differ materially from management’s current expectations. Such risks and uncertainties include, but are not limited to, unforeseen changes in the strength of our customers’ businesses; unforeseen changes in the demand for current and new products, technologies, and services; unforeseen changes in the currency markets; customer purchasing decisions and timing, and the risk that we are not able to realize the savings expected from integration and restructuring activities. In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross-margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties and global economic conditions on our operations, our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability of our supply chain to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix; the ability of Agilent to successfully integrate recent acquisitions; the ability of Agilent to successfully comply with certain complex regulations; and other risks detailed in Agilent’s filings with the Securities and Exchange Commission, including our quarterly report on Form 10-Q for the first quarter ended January 31, 2018. Forward-looking statements are based on the beliefs and assumptions of Agilent’s management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.

NOTE TO EDITORS: Further technology, corporate citizenship and executive news is available on the Agilent news site at www.agilent.com/go/news.


© Business Wire 2018
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Net income 2020 669 M - -
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P/E ratio 2020 40,3x
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Number of Analysts 17
Average target price 88,07 $
Last Close Price 88,14 $
Spread / Highest target 7,78%
Spread / Average Target -0,08%
Spread / Lowest Target -21,7%
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Michael R. McMullen President, Chief Executive Officer & Director
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Darlene J. S. Solomon Chief Technology Officer & Senior Vice President
Heidi Kunz Fields Independent Director
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