HP names spinoff Agilent
By Stephen Shankland
Staff Writer, CNET News.com
July 28, 1999, 9:25 a.m. PT
just in Hewlett-Packard will call its test and measurement organization Agilent, sources said today.
The logo for the spinoff is an eight-pointed star, made up of dots on a field of "HP blue," sources said.
The test and measurement organization--which makes semiconductor testing devices and other products--lies at the heart of HP's history, but it's less known to consumers than its computer and printer business.
Earlier this year, the Silicon Valley giant announced that it would spin off the division into a separate company in an effort to streamline operations. An initial public stock offering may take place toward the end of the year.
While the test and measurement organization, which was called "NewCo" in the interim, accounts for only 20 percent of the company's revenues, that's still a lot of money. In fiscal 1998, the organization had revenues of $7.6 billion, HP said, which could make it one of the largest companies to hold an IPO to date.
In the spinoff, the test and measurement organization will get more than 90 of HP's 600 facilities in 130 countries, outgoing chief executive Lew Platt has said
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