The purchase price of $10.94 per share is a 29 premium to Strategene's closing price of $8.51 on the Nasdaq Stock Market Thursday.
La Jolla, Calif.-based Strategene had about 22.5 million outstanding shares as of March 8, according to its 10-K filing with the Securities and Exchange Commission.
"We see Stratagene's technology, products and expertise as being highly complementary to Agilent's life sciences portfolio, enabling us to offer our customers more complete workflow solutions," Nick Roelofs, vice president and general manager of Agilent's life sciences solutions unit, said in a statement.
Stratagene's more than 400 employees worldwide are expected to join Agilent.
The deal is expected to close in about 90 days, subject to certain closing conditions.
SOURCE: AP