Agilent Technologies Inc., a provider of technologies for communications and life sciences, announced an agreement to acquire Gefran Silicon Microsystem S.r.l., a fiber-optic technology laboratory, for approximately $55 million in cash. Silicon Microsystem is an operation of Gefran Sensori S.r.l., part of Gefran S.p.A., of Provaglio d'Iseo, Italy.
The acquisition of the northern Italy-based Silicon Microsystem is part of Agilent's ongoing investment in the high-growth fiber optic industry. The acquisition adds capabilities that are expected to afford Agilent time to market advantages in its expanding fiber-optic component offerings
By 2004, the worldwide fiber-optic component market is forecasted to grow to over $24 billion, according to RHK Inc., a market research organization. This rapid market growth is fueled by the needs of telecommunications providers to quickly deploy optical communications systems to provide more bandwidth for Internet-based applications.
"Silicon Microsystem will become a natural extension of Agilent's Turin Technology Center (TTC), itself a recent acquisition, which focuses on fiber optic technology used in communications networks," said Dick M. Chang, vice president and general manager of Agilent's Network Solutions Division, of which TTC is a part.
The transaction is expected to close in about six weeks after closing conditions have been met. After the acquisition is completed, Silicon Microsystem will become part of the Turin, Italy based TTC, an operation within the Network Solutions Division of Agilent's Semiconductor Products Group.
About Silicon Microsystem:
Silicon Microsystem is an operation of Gefran Sensori S.r.l., part of Gefran S.p.A., a publicly traded company listed on the Milan stock exchange. The Gefran Group of five companies, headquartered in Provaglio d'Iseo, Italy, manufactures industrial sensors and automation systems. For more information, visit www.gefran.com.
About Agilent Technologies:
Agilent Technologies is a diversified technology company that designs and manufactures test, measurement and monitoring instruments, systems and solutions, and semiconductor and optical components in the communications, electronics, life sciences and healthcare markets. For more information, visit www.agilent.com.