Why hp spin off agilent
Contact Jeremy C. Owens at ; follow him at Twitter. By Jeremy C. Owens Bay Area News Group. The Lead: Agilent blazes a trail many other companies will follow Agilent Technologies completed its planned spinoff Monday, highlighting a road that other high-profile Silicon Valley tech firms are just starting to travel. Holders of HP common stock will receive cash instead of any fractional shares of Agilent Technologies common stock that would otherwise be distributed to them in the distribution.
HP received a private-letter ruling from the Internal Revenue Service stating that the distribution of whole shares of Agilent Technologies common stock will be tax-free to HP and its stockholders. For further information relating to the distribution to holders of HP common stock, surf to www.
Information on Agilent is available at www. Agilent Technologies, Inc. With approximately 43, employees serving customers in more than countries, Agilent Technologies is a global leader in designing and manufacturing test, measurement and monitoring instruments, systems and solutions, and semiconductor and optical components. Earlier this year, the Silicon Valley giant announced that it would spin off the division into a separate company in an effort to streamline operations.
An initial public stock offering may take place toward the end of the year. While the test and measurement organization, which was called "NewCo" in the interim, accounts for only 20 percent of the company's revenues, that's still a lot of money. In the spinoff, the test and measurement organization will get more than 90 of HP's facilities in countries, outgoing chief executive Lew Platt has said. The rate of change accelerated even more in the s, as web-based information and applications became more pervasive toward the end of the decade.
Competition intensified, and time-to-market cycles were greatly reduced. In Lewis E. In HP announced a strategic realignment and the creation of a separate company, Agilent Technologies Inc.
Hewlett-Packard would continue as a computing and imaging company that included all of HP's computing, printing, and imaging businesses. Edward W. HP announced the formation of the new company on March 2, , and on July 28 Agilent Technologies was given its name, a combination of 'agile' with the popular 'ent' ending that suggested high technology compare, for example, Lucent, Scient, and Teligent.
HP planned to spin off the rest of its Agilent stock to HP shareholders in Agilent's four businesses consisted of test and measurement, semiconductor products, healthcare solutions, and chemical analysis.
In the area of test and measurement, Agilent provided companies in the communications, electronics, semiconductor, and related industries with standard and customized test and measurement solutions, including instruments and systems, automated test equipment, communications network monitoring and management tools, and software design tools.
Customers included communications and network equipment manufacturers, providers of communications services, designers and manufacturers of semiconductor products, and designers and manufacturers of electronic equipment.
In the field of semiconductors, Agilent was a supplier of semiconductor components, modules, and assemblies for high-performance communications infrastructure, computing devices, and mobile information appliances.
Products included fiber-optic communication devices, components, and assemblies; integrated circuits for high-speed local area networks LANs and storage area networks SANs ; devices and integrated circuits for microwave and radio frequency RF mobile wireless devices and infrastructure; infrared components for short-range communications; ASICs application specific integrated circuits for workstations, servers, and laser and inkjet printers; LEDs for electronic image and information display; and more.
These products were sold to original equipment manufacturers OEMs and contract manufacturers in the communications and computing industries. Agilent's healthcare solutions were focused on electro-medical clinical measurement and diagnostic solutions. Products and services included patient monitoring systems, imaging systems, external defibrillators, cardiology products, and related services and support.
These products enabled medical professionals to gather and analyze information in a variety of settings, from intensive care units to doctors' offices.