Agilent: Spinoff will be called Keysight

010714keysightAgilent Technologies, which has a location in Colorado Springs, has unveiled the name of the electronic measurement company it is expected to spin off in early November.

Agilent announced in a news release Tuesday that the new company–which will provide electronic test and measurement equipment–has been named Keysight Technologies. The proposed spinoff had been without a name since it was announced on Sept. 19.

“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,” Agilent President and CEO Bill Sullivan said in the announcement.

According to the company, Agilent will continue to focus primarily on life sciences, diagnostics and applied markets while allowing Keysight to focus specifically on electronic measurement. Keysight will produce revenues estimated at $2.9 billion in fiscal year 2013, according to Agilent.com.

Agilent Executive Vice President Ron Nersesian has been named president and CEO of Keysight, and Agilent Vice President Neil Dougherty is now the new company’s chief financial officer, according to the Sept. 19 release.

Agilent Technologies, which is based in Santa Clara, Calif., is itself a spinoff of Palo-Alto-based Hewlett-Packard Company, which it split from in 1999.

“Agilent’s history is one of reinvention, starting with our own separation from HP and including four major spinoffs since 2005,” Sullivan said in the Sept. 19 release.

“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. We are focused on making this transition seamless for our customers.”