Agilent completes acquisition of Proscia

Agilent Technologies has completed its previously announced acquisition of Proscia, a provider of digital-pathology software for clinical and life-sciences customers. Agilent paid $240 million in cash at closing, with up to an additional $30 million tied to future performance milestones. Proscia is now part of Agilent's Life Sciences and Diagnostics Markets Group.

Proscia's vendor-agnostic platform carries FDA 510(k) clearance for primary diagnosis and has an established customer base. Agilent said the deal combines its pathology instruments and reagents with that software, adding a recurring-revenue business and tools for companion diagnostics, drug discovery and clinical pathology workflows.

DLA Piper LLP (US) served as legal adviser and Joele Frank as strategic communications adviser to Agilent. Cooley LLP served as legal adviser to Proscia.