A Vermont company that makes medical equipment has been sold to a California company for nearly $1.2 billion.
The sale of BioTek Instruments to Agilent Technologies was announced Thursday.
BioTek President and CEO Briar Alpert, whose family has run the Winooski-based company for the last 50 years, says he expects the sale to close in a few months.
Alpert says Agilent paid cash for the Vermont company. The California-based Agilent employs more than 15,000 people worldwide and had nearly $5 billion in revenue last year.
Alpert says Agilent is committed to keeping the company in Vermont and retaining its 500 employees.
BioTek employs about 500 people, of whom 300 work in Winooski.