10:18 AM EDT, 07/22/2024 (MT Newswires) -- Agilent Technologies ( A ) said Monday that it agreed to acquire contract development and manufacturing organization BIOVECTRA for $925 million.

The company said BIOVECTRA would expand its service portfolio and will be housed under its diagnostics and genomics group after closing.

The transaction will be funded with a combination of existing cash and debt financing and Agilent ( A ) estimates the acquisition to be $0.05 dilutive to non-GAAP earnings per share in the first year.

Agilent ( A ) expects to close the acquisition before 2025.

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