Agilent to acquire assets of software company iLab Solutions

Agilent Technologies has announced the acquisition of the assets of iLab Solutions, a leading provider of cloud-based solutions for core laboratory management.

Offering laboratory management services to universities, research hospitals and independent institutes across the globe, the Boston-based company helps customers to book time in shared facilities, bill and invoice for projects, manage studies, generate reports and business intelligence, and schedule instrument reservations across multiple projects.

The acquisition includes iLab's technology, intellectual property and product portfolio. It is expected that the deal will close in August, with all of the nearly 70 employees and contractors who work with iLab set to be offered roles by Agilent.

It is expected that existing iLab customers will now benefit from integration with a broad family of solutions and a range of new applications.

Mark Doak, president of Agilent's CrossLab group, said: "Agilent is a one-stop partner to equip, manage and serve our customers' entire laboratory. Our acquisition of iLab further expands our offerings portfolio in a space we previously did not have a presence in."

This comes after the company raised its full-year financial guidance for 2016 last month, based on its better-than-expected performance in the second quarter.