Thursday, September 19, 2013

Agilent to Split Off Electronic Measurement Business from Life Sciences

Agilent Technologies plans to separate into two publicly traded companies: one in life sciences, diagnostics and applied markets (LDA) that will retain the Agilent name, and the other that will be comprised of Agilent's current portfolio of electronic measurement (EM) products.

The new EM company, which will be named later, holds a leading position in major markets including communications; aerospace and defense; and industrial, computers and semiconductors. FY13 estimated revenues are $2.9 billion.

Key products for the EM company include: signal sources and signal analyzers, network analyzers, one-box testers, oscilloscopes and testing instruments, software and services. The EM company will be headquartered in Santa Rosa, California and initially is not expected to pay a dividend. It has about 9,500 employees.

"Agilent has evolved into two distinct investment and business opportunities, and we are creating two separate and strategically focused enterprises to allow each to maximize its growth and success," said William (Bill) Sullivan, Agilent president and CEO.

"Agilent's history is one of reinvention, starting with our own separation from HP and including four major spinoffs since 2005. We are once again making a bold move, as we have done many times in the past, to ensure a future of sustainable growth for both the LDA and EM companies," he said. "We are focused on making this transition seamless for our customers."