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Agilent Boosts Raman Spectroscopy With Cobalt Light Systems
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In a bid to expand its presence in Raman Spectroscopy market, Agilent Technologies Inc. (A - Free Report) has acquired privately held Cobalt Light Systems. The deal was valued at approximately £40 million ($51.5 million) in cash.
Headquartered in Oxfordshire, U.K., Cobalt Light Systems provides Raman spectroscopic instruments for the pharmaceutical industry, applied markets and public safety.
These instruments are based on technologies that enable them to identify chemicals and materials even through opaque barriers and surfaces. Therefore, Cobalt’s instruments can analyze whole tablets or sealed containers. This reduces the need for sample processing and testing of the tablets for quality control, hazardous chemical identification, and security.
Naturally, these instruments save significant time, cost and resource for customers as well as ensure increased safety for certain market segments such as first responders or air passengers.
Following the deal, the company’s share price rose 0.69%. However shares of Agilent have been underperforming the industry for the last one year. The stock has returned 31.3% compared with the Zacks categorized Electronic Testing Equipment industry’s gain of 37.8%.
Deal Rationale
The acquisition will allow Agilent to strengthen its presence in the high-growth Raman spectroscopy market.
Per a BCC Research report, the market for Raman spectroscopy is expected to witness compound annual growth rate (CAGR) of 9.9% from $1.1 billion in 2016 to $1.8 billion by 2021. We believe the Cobalt will help Agilent to cash in on the fast-growing Raman spectroscopy segment.
Additionally, the deal complements Agilent’s own product expansion efforts and will help it in offering better services to its pharmaceutical and biopharma customers. The deal will also strengthen Agilent’s presence in the growing U.K. market.
Patrick Kaltenbach, president of Agilent’s Life Sciences and Applied Markets Group, said, “This is exactly the type of acquisition that Agilent’s strategy calls for—one that expands our market share and provides immediate benefits to our customers”.
Agilent Technologies is a broad-based original equipment manufacturer of test and measurement equipment. The company has been supplementing organizational growth with strategic acquisitions and collaborations.
Last year, in December, the company entered into a partnership with Transcriptic to develop novel synthetic biology solutions. The partnership will help the duo to offer high-quality biology research solutions to its customers.
In June, the company agreed to acquire the assets of Boston-based privately held iLab Solutions to expand its reach in cloud-based laboratory management software.
We believe Agilent’s acquisitions and partnerships, new products and testing systems will help it grow into a formidable player in its space.
Zacks Rank & Stocks to Consider
Currently, Agilent has a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the broader technology sector are Alibaba Group Holding Limited (BABA - Free Report) , PetMed Express, Inc. (PETS - Free Report) and Autobytel Inc. , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Alibaba Group Holding Limited delivered a positive earnings surprise of 20.53%, on average, in the trailing four quarters.
PetMed Express delivered a positive earnings surprise of 9.32%, on average, in the trailing four quarters.
Autobytel Inc. delivered a positive earnings surprise of 41.98%, on average, in the trailing four quarters.
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Agilent Boosts Raman Spectroscopy With Cobalt Light Systems
In a bid to expand its presence in Raman Spectroscopy market, Agilent Technologies Inc. (A - Free Report) has acquired privately held Cobalt Light Systems. The deal was valued at approximately £40 million ($51.5 million) in cash.
Headquartered in Oxfordshire, U.K., Cobalt Light Systems provides Raman spectroscopic instruments for the pharmaceutical industry, applied markets and public safety.
These instruments are based on technologies that enable them to identify chemicals and materials even through opaque barriers and surfaces. Therefore, Cobalt’s instruments can analyze whole tablets or sealed containers. This reduces the need for sample processing and testing of the tablets for quality control, hazardous chemical identification, and security.
Naturally, these instruments save significant time, cost and resource for customers as well as ensure increased safety for certain market segments such as first responders or air passengers.
Following the deal, the company’s share price rose 0.69%. However shares of Agilent have been underperforming the industry for the last one year. The stock has returned 31.3% compared with the Zacks categorized Electronic Testing Equipment industry’s gain of 37.8%.
Deal Rationale
The acquisition will allow Agilent to strengthen its presence in the high-growth Raman spectroscopy market.
Per a BCC Research report, the market for Raman spectroscopy is expected to witness compound annual growth rate (CAGR) of 9.9% from $1.1 billion in 2016 to $1.8 billion by 2021. We believe the Cobalt will help Agilent to cash in on the fast-growing Raman spectroscopy segment.
Additionally, the deal complements Agilent’s own product expansion efforts and will help it in offering better services to its pharmaceutical and biopharma customers. The deal will also strengthen Agilent’s presence in the growing U.K. market.
Patrick Kaltenbach, president of Agilent’s Life Sciences and Applied Markets Group, said, “This is exactly the type of acquisition that Agilent’s strategy calls for—one that expands our market share and provides immediate benefits to our customers”.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. Price and Consensus | Agilent Technologies, Inc. Quote
Our Take
Agilent Technologies is a broad-based original equipment manufacturer of test and measurement equipment. The company has been supplementing organizational growth with strategic acquisitions and collaborations.
Last year, in December, the company entered into a partnership with Transcriptic to develop novel synthetic biology solutions. The partnership will help the duo to offer high-quality biology research solutions to its customers.
In June, the company agreed to acquire the assets of Boston-based privately held iLab Solutions to expand its reach in cloud-based laboratory management software.
We believe Agilent’s acquisitions and partnerships, new products and testing systems will help it grow into a formidable player in its space.
Zacks Rank & Stocks to Consider
Currently, Agilent has a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the broader technology sector are Alibaba Group Holding Limited (BABA - Free Report) , PetMed Express, Inc. (PETS - Free Report) and Autobytel Inc. , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Alibaba Group Holding Limited delivered a positive earnings surprise of 20.53%, on average, in the trailing four quarters.
PetMed Express delivered a positive earnings surprise of 9.32%, on average, in the trailing four quarters.
Autobytel Inc. delivered a positive earnings surprise of 41.98%, on average, in the trailing four quarters.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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