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Technology Stocks : Agilent Technologies (A)
A 146.71-0.5%3:05 PM EST
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To: Chris L. who wrote ()6/22/2000 11:42:00 PM
From: bob zagorin   of 620
 
Snap-on signs license deal with Agilent, Cosworth

KENOSHA, Wis., June 22 (Reuters) - Tool and diagnostic equipment maker Snap-on Inc. <SNA.N> said on Thursday its subsidiary, Snap-on Technologies, signed an agreement to license wireless technology from Agilent Technologies Inc. <A.N> and Cosworth Technology Inc.

The company said the agreement with Palo Alto, Calif.-based Agilent <A.N> and Novi, Mich.-based Cosworth Technology grants Snap-on lifetime software licenses on technology related to wireless communications for automotive diagnostics and software development tools.

Snap-on also licensed a field-of-use patent from Agilent to be used in future introductions of Snap-on wireless diagnostics products, the company said.

Further details were not disclosed.

Agilent, which was a unit of Hewlett-Packard <HWP.N> before a spin-off last year, makes test and measurement equipment. Cosworth Technology Inc. is a subsidiary of Cosworth Techology Ltd., a supplier of powertrain engineering services.

Snap-on said the licensed software was initially developed by a joint Agilent-Cosworth Technology Inc. diagnostics venture.

Shares of Snap-on were off 7/16 at 27-7/16 on the New York Stock Exchange in afternoon trade.

15:21 06-22-00
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