Agilent has announced plans to separate into two industry-leading public companies, one in life sciences, diagnostics and applied markets (LDA) that will retain the Agilent name, and the other comprised of the electronic measurement businesses (EM), to be named in the coming months.
Bill Sullivan will take the helm of the new Agilent as president and CEO, while Ron Nersesian will assume those roles for the EM company. The separation is expected to take place through a tax-free spinoff of EM to Agilent shareholders and is targeted to be completed by the end of calendar 2014.
“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 Sullivan.
“Our 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 added.
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