Agilent Technologies
Inc. (NYSE: A) today announced 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 separation is
expected to occur through a tax-free pro rata spinoff of the EM company to
Agilent shareholders.
"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."