Agilent Technologies Signs Agreement to Acquire Velocity11

Agilent Technologies Inc. and Velocity11 today 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.

The acquisition will enable Agilent 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 world-class software to control the robotics. Velocity11's technology will strengthen Agilent's offering of automated sample-preparation solutions across a broad range of applications.

"Velocity11 is a market leader in lab automation with a solid reputation for innovative technology, quality products and superb customer service", said Nick Roelofs, vice president of Agilent's Life Science Systems and Solutions Unit. 'Together, we can offer customers a comprehensive set of workflow solutions with increased levels of automation, which can help speed drug discovery and genetic research. When the acquisition is final, customers will continue to experience the same personalized customer service they've come to expect from Velocity11, with the addition of Agilent's strong network of global service and support.'

'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.'

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. The company was established in 1999.

Velocity11 has been recognized as one of the fastest growing companies in Silicon Valley ('Silicon Valley Fast 50' list) and in North America ('Technology Fast 500' list and Inc. 500 list). In 2006, Velocity11 was named to Deloitte's 'Fastest Growing U.S. Tech Company' list.