NEW YORK (GenomeWeb News) – Bruker today said that it has entered into a definitive agreement with Agilent Technologies to purchase certain Varian product lines, which will clear the way for Agilent to complete its $1.5 billion acquisition of Varian.
The divestiture of the product lines was a requirement of European Union regulatory authorities to clear the acquisition, which was inked in July 2009. Agilent and Varian had initially expected the transaction to be completed by the end of 2009, but was held up by reviews from EU authorities and the US Federal Trade Commission.
Under the deal announced today, Bruker will acquire from Varian its global inductively coupled plasma mass spectrometry instruments business; its global laboratory gas chromatography instruments business; and its global gas chromatography triple-quadrupole mass spectrometry instruments business.
In addition, Agilent and Bruker will enter into a transitional services and supply agreement to ensure the uninterrupted delivery of products and services to new and existing customers of the three businesses.
After the deal closes, Bruker intends to continue to operate the businesses from their respective facilities located in Victoria, Australia; Middleburg, The Netherlands; and Walnut Creek, Calif. Bruker also intends to retain key management, research and development, operations, sales and marketing, as well as applications and service personnel in each of the businesses.
"These three businesses offer an opportunity to leverage our existing strengths in the analytical instruments market." Frank Laukien, president and CEO of Billerica, Mass.-based Bruker, said in a statement. "The three new product lines will form the core offerings in a newly established Bruker Chemical Analysis Division with an experienced and dedicated management team."
Agilent now expects to complete its acquisition of Varian by the end of April. It said there is no financing condition to closing the transaction with Bruker, and the price of the sale is not being disclosed.