SANTA CLARA, Calif.--(BUSINESS WIRE)--Nov. 3, 2014--
Agilent Technologies Inc. (NYSE: A) today announced it has completed the
spinoff of its electronic measurement business, Keysight Technologies.
Keysight will begin trading on the New York Stock Exchange today under
the symbol KEYS.
The separation was implemented through a spinoff of Keysight’s common
stock and is intended to be tax-free for U.S. federal income tax
purposes. On Nov. 1, 2014, in a special dividend distribution of all
outstanding shares of Keysight’s common stock, Agilent shareholders
received one share of Keysight common stock for every two shares of
Agilent common stock held as of close of business Oct. 22, 2014.
Agilent announced plans to separate into two independent, publicly
traded companies on Sept. 19, 2013. The company said at the time that
its businesses had evolved into two distinct investment and business
opportunities. Agilent is now a global leader in life sciences,
diagnostics and applied chemical markets. Keysight is the market leader
in electronic measurement. As previously announced, Ron Nersesian is
president and CEO of Keysight.
“The completion of this separation and the creation of Keysight
Technologies will provide excellent shareholder value by sharpening the
focus of each company and allowing Agilent and Keysight to pursue their
individual growth strategies,” said Agilent CEO Bill Sullivan. “We wish
our colleagues at Keysight continued success as leaders in electronic
measurement.”
“Agilent is also relaunching itself with a strengthened focus on life
sciences, diagnostics and applied markets,” said Agilent President and
Chief Operating Officer Mike McMullen. “We are excited about the promise
of the ‘new Agilent.’ We are in the right markets, and our technologies,
products, software, services, consumables and, most of all, talented
teams empower our laboratory customers in improving the human condition
and the quality of life.”
McMullen will assume the role of Agilent CEO in March 2015 when
Sullivan, who has announced he will retire at the end of FY15, becomes
an advisor to the company.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A), a global leader in life sciences,
diagnostics and applied chemical markets, is the premier laboratory
partner for a better world. Agilent works with customers in more than
100 countries, providing instruments, software, services and consumables
for the entire laboratory workflow. Agilent generated revenues of $3.9
billion in fiscal 2013. The company employs about 11,000 people
worldwide. Information about Agilent is available at www.agilent.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined in the
Securities Exchange Act of 1934 and is subject to the safe harbors
created therein. The forward-looking statements contained herein
include, but are not limited to, information regarding the separation of
Agilent’s electronic measurement business; future revenues, earnings and
profitability; the future demand for the company’s products and
services; and customer expectations. These forward-looking statements
involve risks and uncertainties that could cause Agilent’s results to
differ materially from management’s current expectations. Such risks and
uncertainties include, but are not limited to, unforeseen changes in the
strength of our customers’ businesses; unforeseen changes in the demand
for current and new products, technologies, and services; customer
purchasing decisions and timing, and the risk that we are not able to
realize the savings expected from integration and restructuring
activities.
In addition, other risks that Agilent faces include those detailed in
Agilent’s filings with the Securities and Exchange Commission, including
our latest Form 10-K and Form 10-Q. Forward-looking statements are based
on the beliefs and assumptions of Agilent’s management and on currently
available information. Agilent undertakes no responsibility to publicly
update or revise any forward-looking statement.
NOTE TO EDITORS: Further technology, corporate citizenship and executive
news is available at www.agilent.com/go/news.
Source: Agilent Technologies Inc.
Agilent Technologies Inc.
EDITORIAL CONTACT:
Michele Drake, +1
408-345-8396
[email protected]
or
INVESTOR
CONTACT:
Alicia Rodriguez, +1 408-345-8948
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