Keithley Instruments has signed an agreement to sell substantially all of its RF product line to Agilent Technologies.
The impact of the downturn across the test business has prompted keithley to focus on growing our core business.
“The impact of the economic downturn changed the expected timing of the returns we were anticipating from our RF product line, extending them beyond a time-frame that we were willing to continue to support," said Joseph P. Keithley, the company’s chairman, president and CEO.
"The divestiture of our RF product line enables us to increase our focus on our core technologies and we intend to expand our efforts to leverage these strengths in support of new growth opportunities such as energy efficiency related devices and materials,” said Keithley.
It is anticipated that the majority of the RF team will become Agilent employees. Under the terms of the agreement, the Company will transfer substantially all of the assets associated with the RF product line and Agilent will assume certain related liabilities.
Agilent will provide global sales, service and support for the existing RF product line.
Subject to the completion of customary closing conditions, it is anticipated that the transaction will close around November 30, 2009.