It has been announced that Agilent Technologies will pay $1.5 billion, cash, for life sciences consumables and instrumentation supplier, Varian.

"This acquisition is a major step in Agilent’s transformation into a leading bio-analytical measurement company," said Bill Sullivan, Agilent’s president and chief executive officer in a statement. He also indicated that the company’s biggest opportunities for growth in the future would be in bio-analytical measurement.

Agilent's press office told LC•GC Europe that, "The acquisition broadens Agilent’s applications and solutions offerings for mass spectrometry and chromatography; expands its product portfolio into atomic and molecular spectroscopy; establishes a leading position in nuclear magnetic resonance, imaging and vacuum technologies where Agilent does not currently participate; and strengthens its consumables portfolio."

"We both believe that our two companies will benefit by joining forces," said Varian in a statement to its employees. "Agilent has size, resources and global sales coverage that will enhance the growth of Varian businesses. Varian brings expertise and experience across different but complementary geographies and applications."

Varian went on to further describe these areas of expertise. "For instance, while Varian is well-established in energy and environmental applications, Agilent is a leader in food safety."

While the companies did not comment on any specific changes that customers would see as a result of the acquisition, an Agilent spokesperson did say that, "together, the combined company will be able to provide customers with a more comprehensive set of solutions across a wider range of industries."

Varian elaborated further: "Our customers will clearly benefit. We will be able to provide them with the most comprehensive set of solutions across a wider range of industries immediately after the transaction closes. And we will be better positioned than ever to create innovative new products and services in the future."

The acquisition is expected to close by the end of 2009, subject to regulatory approval.

For more on Agilent visit www.agilent.com
For more on Varian visit www.varianinc.com