Agilent splits in two; cuts electronic T&M business adrift

"Agilent has evolved into two distinct investment and business opportunities, and we are creating two separate and strategically focused enterprises to allow each to maximise its growth and success," said Bill Sullivan, pictured, who will remain as president and ceo of Agilent. "Agilent's history is one of reinvention, starting with our 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." The new test and measurement company will have a leading position in major markets, said Agilent in a press statement, adding that 2013 revenues are expected to reach $2.9billion. Ron Nersesian, currently chief operating officer, has been designated as ceo of the new 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."