Agilent spins off electronic measurement business
Agilent has split in two. One company, called Agilent, is focussed on life sciences, diagnostics and applied markets and the other company, not yet named, is focussed on electronic measurement.
The companies will be separately listed on the New York stock exchange.
The motive behind the split is to maximise the share price of the Agilent life sciences and diagnostics part of the business by not having the drag of the lesser performing electronic measurement unit.
The NYSE liked the move with Agilent shares going up sharply.
The Agilent life sciences and diagnostics company has sales of about $4 billion. The electronic measurement company has sales of about $3 billion.
The new Agilent life sciences and diagnostics company will consist of two groups: the chemical analysis group and the life sciences and diagnostics group.
Agilent was spun off from HP in 1999.