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Agilent Technologies to Acquire Digital Pathology Firm Proscia for Up to $270 Million

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Agilent Technologies, Inc. (NYSE:A) has agreed to acquire digital pathology software developer Proscia in a transaction valued at up to $270 million. Under the deal terms, Agilent will pay $240 million in cash at closing, with an additional $30 million contingent on reaching future performance milestones. Proscia generates trailing 12-month revenue exceeding $18 million and holds FDA 510(k) clearance for primary diagnosis.

The acquisition strengthens Agilent's digital diagnostic presence by integrating software that helps laboratories, clinics, and pharmaceutical companies manage tissue sample images and workflows using artificial intelligence. The agreement builds on a multiyear distribution partnership established between the two companies in September 2022. Proscia's recurring software revenue model is anticipated to expand Agilent's higher-margin lifetime diagnostic offerings.

The deal remains subject to customary closing conditions and is scheduled to close early in Agilent's fiscal 2027. Following the completion of the acquisition, Proscia will become part of Agilent's Life Sciences and Diagnostics Markets Group.

Key points

  • Agilent Technologies will pay $240 million cash at closing, with up to $30 million linked to future milestones.
  • Proscia software connects diagnostic tools and AI models, generating over $18 million in annual revenue.
  • The deal expands Agilent's software offerings across life sciences labs and pharmaceutical clients.
  • The acquisition is expected to close in early fiscal 2027 and join Agilent's Life Sciences group.

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Questions and answers

How much is Agilent paying to acquire Proscia?

Agilent is paying $240 million in cash at closing, plus up to $30 million based on future performance targets, bringing the total potential value to $270 million.

What does Proscia do?

Proscia produces software that manages digital pathology images, laboratory workflows, and AI analytical tools for hospitals, clinics, and pharmaceutical companies.

When is the Agilent and Proscia acquisition expected to close?

The deal is expected to close early in Agilent's fiscal 2027, subject to customary closing conditions.