The network solutions business includes Agilent's network assurance solutions, network protocol test and drive test products.
Santa Clara, California, USA. 12 February, 2010 — Agilent Technologies Inc. (NYSE: A) has signed a definitive agreement to sell its network solutions business to JDSU (NASDAQ: JDSU; and TSX: JDU). JDSU will pay Agilent US$165 million in cash. Subject to customary closing conditions and regulatory approval, the transaction is expected to be finalised in the second quarter this year.
The network solutions business includes Agilent's network assurance solutions, network protocol test and drive test products. The business achieved annual revenues of $162 million in its fiscal year ending 31 October, 2009. Talking to insiders the sale clearly was as much of a surprise to staff within Agilent's Network Solutions business as it was to outsiders, but initial reactions were said to be positive.
Agilent is an industry leader in network assurance and in next generation network test systems. Its customer base includes leading service providers and network equipment manufacturers from around the world. The company reports that it is selling its network solutions business because it "believes the business and its customers will be better served by a company that is focused exclusively on communications network test".
"We are pleased to have reached an agreement with JDSU for the sale of our network solutions business," said Ron Nersesian, president of Agilent's Electronic Measurement Group. "We believe JDSU is an excellent fit for this business. Their leadership and commitment to this market will benefit our customers and employees, and we are committed to a smooth transition over the coming few months."
Agilent's network solutions business employs approximately 700 people, with operations in Colorado, the UK, Singapore and China.
Agilent Technologies Inc. as a whole, is one of the world's largest measurement companies and a technology leader in communications, electronics, life sciences and chemical analysis. The company's 17,000 employees serve customers in more than 110 countries. Agilent had net revenues of $4.5 billion in fiscal 2009.
