Agilent will buy Varian, a supplier of scientific instrumentation and associated consumables for life science and applied market applications. Agilent will pay $52 cash per share of common stock for Varian in a transaction that represents a premium of approximately 35% to Varian’s closing price on July 24, 2009. The transaction value is about $1.5 billion. The acquisition broadens Agilent’s applications and solutions offerings in Life Sciences, Environmental, and Energy and Materials. It also expands Agilent’s product portfolio into atomic and molecular spectroscopy; establishes a leading position in NMR, imaging and vacuum technologies; and strengthens its consumables portfolio.

Varian reported year 2008 revenues of $1.012 billion and a net income of $66.4 million. The revenue in the third quarter 2009 was $196,6 million and the net income was $13.5 million.