Agilent Technologies Signs Agreement to Acquire Velocity11
News Nov 12, 2007
Agilent Technologies Inc. and Velocity11 announced that they have signed a definitive agreement for Agilent to acquire Velocity11. Velocity11, privately held, is a leader in automated liquid handling and laboratory robotics for the life science market.
Financial details were not disclosed. The acquisition is expected to be final in 30 to 60 days, subject to certain closing conditions.
According to Agilent, the acquisition will enable the company to offer a more comprehensive suite of workflow solutions to its life science customers in the pharmaceutical, biotech and academic research markets.
Velocity11 designs, manufactures and markets robotic solutions that range from standalone instrumentation to bench-top automation solutions to large, multi-armed robotic systems. The company also develops software to control the robotics. Velocity11’s technology will strengthen Agilent’s offering of automated sample-preparation solutions across a broad range of applications.
“We are very excited to be joining Agilent and to have found a company with such a complementary culture, product line, commitment to customer satisfaction and vision for providing complete automated workflow solutions,” said Rob Nail, Velocity11’s CEO.
“The ability to leverage Agilent’s global infrastructure and deep applications focus will allow us to continue to improve the services we provide our customers, innovate in new directions, and rapidly expand our reach worldwide,”Nail said.
Agilent is offering jobs to substantially all of Velocity11’s approximately 150 employees worldwide. Headquartered in Menlo Park, Calif., Velocity11 has a second office in Melbourn, Hertfordshire, U.K., with field sales and support offered throughout the U.S. and Western Europe.