Agilent Technologies Inc. (NYSE: A) and iLab Solutions, LLC today announced they have signed a definitive agreement under which Agilent will acquire substantially all of the assets of iLab, the market leader in cloud-based solutions for core laboratory management. The acquisition includes iLab's technology, intellectual property and product portfolio, as well as employee talent.
A privately held company based in Boston, Mass., iLab Solutions provides laboratory management services to leading universities, research hospitals and independent institutes across the globe.
Using iLab's offerings, customers can easily and accurately book time in shared facilities to bill and invoice for projects, to manage studies, to generate reports and business intelligence, and to schedule instrument reservations across multiple projects.
"Agilent is a one-stop partner to equip, manage and serve our customers' entire laboratory," said Mark Doak, president, Agilent CrossLab Group. "Our acquisition of iLab further expands our offerings portfolio in a space we previously did not have a presence in."
"iLab's solutions are robust and scalable, allowing for expansion into large-enterprise accounts, including Pharma," he added. "With iLab's experience and outstanding enterprise-level management solutions, we will be able to immediately deliver broader value for our customers."
"Joining forces with Agilent is an excellent fit for us," said Tad Fallows, chief executive officer, iLab Solutions. "It is also a tremendous opportunity for our customers, who will benefit from integration with a broad family of solutions and a range of new applications. Together, we'll be able to further accelerate our offerings to additional markets through Agilent's global reach and leadership in multiple market segments."
The acquisition is expected to be completed in early August, subject to local laws and regulations and customary closing conditions. iLab Solutions employs nearly 70 employees and contractors, all of whom will be offered opportunities with Agilent. Financial terms of the transaction were not disclosed.
About iLab Solutions, LLC
iLab Solutions, LLC is the global leader in providing web-based core facility management services to academic research institutions. The functionality includes request management, equipment reservation and usage tracking, project tracking, billing and invoicing, and reporting. iLab has extensive experience providing enterprise-level solutions at major research institutions, including integrations with institutional financial systems and identity management systems. iLab's dedicated implementation team and full customer support result in high adoption rates. Core facilities across 150 institutions in North America, Europe and the Asia-Pacific region rely on iLab, including universities, hospitals, independent institutes and government labs. For more information, visit www.ilabsolutions.com.