Electronic measurement company formed through the separation of Agilent into two new businesses.
Agilent Technologies Inc. recently announced its separation into two separate traded companies. One company will retain the Agilent name and focus on life sciences, diagnostics and applied markets (LDA). The other will center on Agilent’s current portfolio of electronic measurement (EM) products.
“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,” commented William Sullivan, Agilent President and Chief Executive Officer.
As a result of the decision, Agilent shareholders will receive a pro rata distribution of shares in the new EM company via a tax-free spinoff. The transaction is expected to be completed by the end of 2014.
“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,” Sullivan added. “We are focused on making this transition seamless for our customers.”