Agilent Technologies announces Dako acquisition

Agilent Technologies has agreed a $2.2 billion (1.4 billion pounds) deal to acquire cancer diagnostics specialist Dako.

The acquisition deal is the most valuable in Agilent's history and will allow the firm to combine forces with one of the leading global providers of cancer diagnostic tools, complementing its existing operations while helping it to branch out into new areas.

Dako provides antibodies, reagents, scientific instruments and software primarily to customers in pathology laboratories, while collaborating with leading pharmaceutical companies to create pharmacodiagnostics.

Earlier this year, the firm announced partnership arrangements with Genentech and Amgen on the development of testing systems to accompany new cancer drugs.

Dako products are sold in more than 100 countries worldwide, while the firm's global workforce exceeds 1,000 people.

Bill Sullivan, Agilent's president and chief executive officer, said: "Dako employs extremely talented people with specialised expertise that we highly value. Their knowledge and experience will be very important as we move forward together."