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Agilent to Acquire iLab Solutions

NEW YORK (GenomeWeb) – Agilent Technologies has announced a definitive agreement to acquire the assets of Boston-based laboratory management software firm iLab Solutions.

Under the terms of the agreement, Agilent will acquire substantially all assets of iLab, including its technology, intellectual property, product portfolio, and employees.

Privately held iLab provides cloud-based laboratory management services to universities, research hospitals, and research institutes around the world, the firm said in a statement. It has 70 employees.

"Our acquisition of iLab further expands our offerings portfolio in a space we previously did not have a presence in," Agilent CrossLab Group President Mark Doak said in a statement, adding that iLab's solutions are "robust and scalable, allowing for expansion into large-enterprise accounts, including Pharma."

Agilent said it expects to complete the acquisition by early August, subject to closing conditions. Financial and other terms of the deal were not disclosed.

The deal is the first acquisition for Agilent since it acquired Seashore Bioscience in September 2015 for $235 million. Though, in March, it invested $80 million in sequencing technology firm Lasergen.

The deal is the first software-related acquisition for Agilent since it acquired Cartagenia in May 2015.