Agilent’s Purchase of Varian Closes
The acquisition broadens Agilent’s product offerings, end-market access and application solutions. Agilent plans to leverage its operating model and infrastructure to improve Varian’s cost structure. Rick Burdsall, Agilent’s new chief infrastructure officer (see page 8), will lead the infrastructure integration. Agilent also noted that its expertise in radio frequency and electromagnetic transmit-and-receive technology can be applied to the NMR and MRI product lines. According to a presentation at its March analysts meeting, Agilent expects Varian to add more than $250 million in recurring revenue sales. (For Varian’s quarterly results, see page 12.)
Santa Clara, CA 5/14/10—Agilent Technologies has finalized its purchase of Varian for $1.5 billion in cash (see IBO 7/31/09). “The Varian acquisition—the largest in our company’s history—furthers our evolution toward becoming a global leader in bio-analytical measurement,” stated Agilent President and CEO Bill Sullivan. “We’re gaining tremendous talent and technology. And for our customers, this will mean a broader span of expertise, applications and products from one trusted company.” The majority of Varian’s product lines will report into Agilent’s Chemical Analysis Group. Varian’s Research Products business, which includes NMR, MRI and X-ray products, will report into Agilent’s Life Sciences Group. Varian’s vacuum technologies business will operate as a standalone business.
