Summary
Agilent Technologies, Inc. has completed the spin-off of its electronic measurement business into a new, independent public company named Keysight Technologies, Inc. The distribution, effective November 1, 2014, resulted in Agilent shareholders receiving one share of Keysight common stock for every two shares of Agilent stock they held as of the record date, October 22, 2014. Keysight will trade on the New York Stock Exchange under the ticker symbol "KEYS". This strategic move separates Agilent's life sciences, diagnostics, and applied chemical markets businesses from its former electronic measurement operations. Investors should note that Agilent's financial reporting and business focus will now be solely on its continuing operations, excluding the electronic measurement segment. Pro forma financial information reflecting the impact of this separation is also provided to help understand the financial position of the remaining Agilent business.
Key Highlights
- 1Agilent Technologies completed the spin-off of its electronic measurement business, now Keysight Technologies, Inc.
- 2Keysight Technologies, Inc. is now an independent public company trading on the NYSE under the symbol 'KEYS'.
- 3The distribution was a stock dividend, with shareholders receiving 1 share of Keysight for every 2 shares of Agilent held.
- 4The record date for shareholder eligibility was October 22, 2014.
- 5The spin-off effectively separates Agilent's core businesses (life sciences, diagnostics, applied chemical markets) from the electronic measurement segment.
- 6Unaudited pro forma financial information is provided to illustrate the impact of the separation on Agilent's financials.