Agilent Technologies Acquires Molecular Imaging and Its Atomic Force Microscopy Technology; Acquisition Strengthens Agilent's Nanomeasurements Portfolio.
Based in Tempe, Ariz., Molecular Imaging is known for its atomic force microscopes (AFMs), the principal imaging and measurement instruments used by researchers working in nanotechnology. Called the "eyes of nanotechnology," AFMs are used to measure the shape and properties of materials at the nanometer scale.
Agilent already has a solid position in the laser interferometer market to precisely measure distances at the nanometer scale. The acquisition of Molecular Imaging marks the next step in strengthening Agilent's market position in nanomeasurement by extending the company's portfolio into imaging at the nanometer scale through AFMs.
"This is a strategic acquisition for Agilent because it complements our core strength of measurement technology while growing our presence in nanotechnology," said Bob Burns, vice president of Agilent's Nanotechnology Measurements Division. "Molecular Imaging has premier AFM technology that is the high-performance value leader in the market and is the leader in imaging 'in-situ' samples in their natural state."
Nanotechnology is important to Agilent, Burns said, because it is a common denominator between the two chief areas of the company's business -- the electronic measurements side and the analytical measurements side, which concentrates on life sciences and chemical analysis.
Atomic force microscopes are a significant portion of the $1 billion market for nanotechnology measurement tools. Molecular Imaging's chief product line is the PicoPlus(R) family of modular, high-resolution AFMs, which are used for high-resolution imaging in fluids as well as ambient and controlled environmental and temperature conditions. Customers are researchers in the areas of drug discovery, life science, electrochemistry, materials science and polymer science. Ideal for multipurpose, multiuser facilities, the versatile PicoPlus gives researchers the ability to customize their systems and add functionality as needed.
"We're looking forward to being a part of Agilent because of its deep history of innovation and technology expertise," said Vance Nau, president and CEO of Molecular Imaging.
Professor Stuart Lindsay and Dr. Tianwei Jing from Arizona State University founded Molecular Imaging in 1993. The company has had a continuous relationship with ASU and its Lindsay Laboratory since then. Because of the strong ties between Molecular Imaging and ASU, Agilent has no plans to move Molecular Imaging operations from the Tempe area. Molecular Imaging employees have joined Agilent.
Molecular Imaging is the premier developer and supplier of atomic force microscopes and scanning probe microscope (SPM) systems for high-resolution imaging in fluids or ambient air under controlled temperatures and environmental conditions. The company's products are designed for nanotechnology research applications in life science, biotechnology, electrochemistry and material and polymer science. More information about Molecular Imaging is available at www.molec.com.
A backgrounder containing additional information about AFMs can be found at www.agilent.com/find/AFM_backgrounder.
About Agilent Technologies
Agilent Technologies, Inc. (NYSE:A) is the world's premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 27,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.1 billion in fiscal year 2005. Information about Agilent is available on the Web at www.Agilent.com.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding Agilent's nanotechnology business and market position following the completion of its acquisition of Molecular Imaging, the growth of Agilent's presence in the nanotechnology area and Agilent's intent not to relocate Molecular Imaging's operations, the ability of Agilent to meet certain strategic objectives, and Agilent's willingness and ability to develop and support Molecular Imaging products following the Closing. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. Such risks and uncertainties include, but are not limited to risks associated with the ability to effectuate the acquisition on a timely basis, risks associated with changes in demand for Agilent's and Molecular Imaging's products and risks associated with the development generally of Agilent's overall strategic objectives.
In addition, other risks that Agilent faces in running its operations include the ability to execute successfully through business cycles while it continues to implement cost reductions; the ability to meet and achieve the benefits of its cost-reduction goals and otherwise successfully adapt its cost structures to continuing changes in business conditions; ongoing competitive, pricing and gross margin pressures; the risk that our cost-cutting initiatives will impair our ability to develop products and remain competitive and to operate effectively; the impact of geopolitical uncertainties on our markets and our ability to conduct business; the ability to improve asset performance to adapt to changes in demand; the ability to successfully introduce new products at the right time, price and mix and other risks detailed in Agilent's filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the period ended January 31, 2005. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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