Agilent acquires Dako

Measurement devices focused Agilent Technologies Inc (NYSE:A) will acquire Cancer diagnostic tools provider Dako A/S for 2.2 billion USD on debt-free basis. Dako is headquartered in Denmark and has R&D sites in Glostrup, Denmark and in Carpinteria, CA, USA. The selling party is a Swedish private equity firm EQT, which acquired it in 2007. Dako had revenues of around 340 million USD in 2010. It was founded in 1966 by medical doctor Niels Harboe and currently sells its products in more than 100 countries. The prospective new owner said they value Dako’s skilled employees, who will be important for the continued growth of the joint company. Dako employs more than 100o people. The acquisition is the largest to date for Agilent.

Dako has been a pioneer in standardization of antibodies. It currently has a leading position in in the pathology segment of the in vitro diagnostics industry. In particular it has products such as those for Immunohistochemistry (antibodies etc), pharmacoDiagnostic kits, Molecular Pathology kits, Special Stains, Primary Stains and for products diagnostic image analysis. It provides the antibodies, reagents, scientific instruments and software mainly for pathology laboratories customers. It has partnerships with large pharmaceutical companies, and most recently announced one with Amgen. The Agilent-EQT deal is expected to close within 60 days.