Corporate Banner
Satellite Banner
Genotyping & Gene Expression
Scientific Community
Become a Member | Sign in
Home>News>This Article

Agilent Technologies to Separate into Two Public Companies

Published: Monday, September 23, 2013
Last Updated: Monday, September 23, 2013
Bookmark and Share
Life sciences, diagnostics and applied markets (LDA) that will retain the Agilent name, and the other company will be comprised of Agilent's 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."


Agilent believes that the separation will result in material benefits to the standalone companies:

•    Greater management focus on the distinct businesses of LDA and EM
•    Ability for the LDA company to devote resources to the higher-growth LDA business, while reducing exposure to the more cyclical EM industry
•    Ability for the EM company to devote resources to its own growth that were previously used to capitalize LDA
•    Two independent and unique investment profiles
•    Both companies will be well capitalized, having strong balance sheets and investment-grade profiles with target debt-to-EBITDA ratios below 2.0x

The New Agilent

The new Agilent will be a global leader in life sciences, diagnostics and applied markets, with an attractive recurring revenue base, balanced geographic revenue profile, growth opportunities in emerging markets, molecular diagnostics and clinical markets, and significant margin-expansion opportunities. FY13 estimated revenues are $3.9 billion. It is expected that the new Agilent will continue to pay a dividend at least at the present yield.

Bill Sullivan is president and CEO of Agilent, and Didier Hirsch continues as CFO.

EM Company

The new EM company will be the world's premier electronic measurement company, with a leading position in major markets including communications; aerospace and defense; and industrial, computers and semiconductors. FY13 estimated revenues are $2.9 billion. The EM company initially is not expected to pay a dividend.

Ron Nersesian, who has been Agilent's president and chief operating officer, is executive vice president of Agilent and president and CEO-designate of the new EM company, effective immediately. Neil Dougherty, who has been Agilent's vice president and treasurer, is vice president of Agilent and CFO-designate of the new EM company.

"The board and I believe Ron is the right leader for the new company," said Sullivan. "He has an excellent track record of running this business, and he has the vision and expertise to position the new company for accelerated growth and success."

Transaction Details

The Agilent board of directors granted initial approval to pursue the separation plan at its meeting on Sept. 18.

Under the plan, Agilent shareholders will receive a pro rata distribution of shares in the new EM company via a tax-free spinoff. Although there is no assurance that the separation will be completed within this timeframe, the transaction is targeted to be completed by the end of calendar 2014, subject to the satisfaction of closing conditions, including, among others, obtaining final approval from the Agilent board of directors, satisfactory completion of financing, receipt of tax opinions, receipt of favorable rulings from the Internal Revenue Service, the effectiveness of a Form 10 filing with the Securities and Exchange Commission, and satisfying foreign regulatory requirements.

The spinoff is not anticipated to impact Agilent's guidance for fiscal year 2013. The company is expected to incur one-time charges related to the transaction during the periods preceding the separation, to be quantified at a later date.

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,700+ scientific posters on ePosters
  • More than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Agilent Supports Inaugural Singapore-South Korea Symposium on Glycomics
Event follows collaboration to develop tools for analysis of biologics, vaccines.
Saturday, February 15, 2014
Agilent, Cell Line Genetics Collaborate
Companies to collaborate on high-throughput cell-line characterization services for regenerative medicine, cancer researchers.
Thursday, February 13, 2014
Agilent Joins Forces with Baylor College of Medicine
Collaboration will see Agilent and Baylor provide customized CGH microarrays for cancer, prenatal and postnatal research.
Thursday, November 14, 2013
Agilent and Seoul National University Hospital Collaborate
The strategic collaboration will focus on the development and verification of various biomarkers for the development of drugs, including narcotics, immune-suppressants and biomarkers.
Friday, October 18, 2013
Agilent Technologies and SomaLogic Enter Agreement
The agreement will expand access to SomaLogic's unbiased protein biomarker discovery platform.
Tuesday, August 13, 2013
Agilent Technologies Announces Winner of Fifth Annual Early Career Professor Award
Assistant Professor at Northwestern Recognized for Cancer Diagnostics Research.
Friday, May 10, 2013
Agilent Technologies and Chungnam National University Announce Glycomics Research Initiatives
The collaboration hopes to develop biomarkers and new therapeutic antibodies to combat diseases such as cancer.
Tuesday, April 02, 2013
Agilent and Applied Proteomics Will Collaborate
Collaboration to maximize capabilities of highly multiplexed protein assays.
Friday, March 08, 2013
Agilent Technologies Collaborates with Gachon University
World-leading research laboratory at Gachon will have access to the latest technologies from Agilent and a beta test site for new solutions.
Monday, July 23, 2012
Agilent Technologies and Chungnam National University Collaborate to Further Glycomics Research
The university aims to identify and develop biomarkers for diseases.
Friday, August 26, 2011
Agilent Technologies Enters Second Phase of Collaboration to Map Human Proteome
Agilent’s collaboration with ISB and ETH Zurich for the mapping of the complete human proteome by mass spectrometry is enters its second phase.
Thursday, September 23, 2010
Agilent Updates Human Exon Target Enrichment Tool, Featuring Expressed Genome Content and Optimized Uniformity
The Latest SureSelect product to emerge from close collaboration with The Broad Institute.
Wednesday, August 25, 2010
Agilent and Los Alamos Develop First High-Throughput System to be Deployed at UCLA’s Global Bio Lab
Researchers are developing new tools for characterizing biological pathogens that could give rise to potentially deadly pandemics.
Thursday, June 11, 2009
Phytronix and Agilent to Co-Market Phytronix LDTD Ion Source with Agilent Mass Spectrometers
The non-exclusive co-marketing agreement aims to promote the Phytronix Laser Diode Thermal Desorption Ion Source with Agilent mass spectrometers.
Wednesday, June 10, 2009
Agilent Technologies, University of Michigan Partner on Research to Attack Prostate Cancer Using Systems Biology
Agilent Technologies announced its support of prostate cancer research by the University of Michigan’s Centre for Translational Pathology (MCTP) through a grant of instruments and funding.
Monday, March 23, 2009
Scientific News
Four New Genetic Disorders Identified
Sharing of genetic data empowers discovery of new disorders in children.
Biomarker Predicting Transplant Complications May be Key to Treating Them
A protein that can be used to predict if a stem cell transplant patient will suffer severe complications may also be the key to preventing those complications, an international research team based at the Indiana University School of Medicine reported Wednesday.
Chromosomal Chaos
Penn study forms basis for future precision medicine approaches for Sezary syndrome
Shaking Up the Foundations of Epigenetics
Researchers at the Centre for Genomic Regulation (CRG) and the University of Barcelona (UB) published a study that challenges some of the current beliefs about epigenetics.
Cell's Waste Disposal System Regulates Body Clock Proteins
New way to identify interacting proteins could identify potential drug targets.
Compound Doubles Up On Cancer Detection
Researchers have found that tagging a pair of markers found almost exclusively on a common brain cancer yields a cancer signal that is both more obvious and more specific to cancer.
Lung Repair and Regeneration Gene Discovered
New role for hedgehog gene offers better understanding of lung disease.
Mixed Up Cell Transportation Key Piece of ALS and Dementia Puzzle
Researchers from the University of Toronto are one step closer to solving this incredibly complex puzzle, offering hope for treatment.
Five New Genetic Variants Linked to Brain Cancer Identified
The biggest ever study of DNA from people with glioma – the most common form of brain cancer – has discovered five new genetic variants associated with the disease.
Predictive Model for Breast Cancer Progression
Biomedical engineers have demonstrated a proof-of-principle technique that could give women and their oncologists more personalized information to help them choose options for treating breast cancer.
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,700+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos