Agilent Technologies Inc.’s (NYSE:A) embarrassment of riches turned out to be a boon for Bruker Corp. (NSDQ:BRKR) too.
The companies announced the completion of a deal to sell Billerica, Mass.-based Bruker three business units of Varian Inc. so Agilent can comply with European anti-trust laws. Agilent acquired its Palo, Alto, Calif.-based instrument-making subsidiary in July 2009 for a reported $1.5 billion.
Bruker will purchase Varian’s global inductively coupled plasma mass spectrometry instruments business in Melbourne, Australia, the company’s global laboratory gas chromatography instruments business in Middelburg, the Netherlands, and Varian’s global gas chromatography triple-quadrupole mass spectrometry instruments business in Walnut Creek, Calif.
Terms of the deal, expected to close shortly after Varian and Agilent make their union official April 30, were not disclosed. Agilent must still sell Varian’s micro gas chromatography business in order to comply with the European Union’s anti-trust laws.
The units make up about a third of Varian’s scientific instruments products division, which accounted for 84 percent of the company’s $807 million in sales during 2009, according to regulatory filings.
Both Bruker and Agilent officials said they will work together to ensure customers get a smooth ride through the transition period and that the units would retain current management teams and locations.
