3/27/2003 - Agilent Technologies Inc. (NYSE: A) and VXI Technology Inc. announced an agreement for VXI Technology to acquire Agilent's mechanical data acquisition product segment within its test and measurement business. VXI Technology designs and manufactures high-density modular instruments and signal switching systems for electronics manufacturers and suppliers. Under terms of the agreement, Agilent will divest assets, products, technology and employees associated with this product segment. Financial details of the agreement were not disclosed.
Agilent's VXI-based mechanical data acquisition product segment includes the manufacture and sale of measurement and analysis products for use in shock, vibration and acoustical analysis applications. The company said it is divesting this product segment as part of an overall effort to refine its strategic focus. Agilent will continue to provide VXI-based solutions for electrical test applications in manufacturing and engineering.
The divestiture affects Agilent employees in the mechanical data acquisition product segment, who have been offered jobs by VXI Technology. Also included in the agreement are test systems and associated equipment, certain intellectual property and product-related inventory. The company said the agreement expands Agilent's existing relationship with VXI Technology.
"VXI Technology is an excellent choice for our customers, our employees and Agilent," said Scott Sampl, vice president and general manager of Agilent's Basic Emerging and Systems Technologies division. "VXI Technology is focused on this technology and its mechanical applications, and expects to provide a future roadmap of new products and enhancements. We look forward to working with them to ensure a smooth transition for our customers."
"The purchase of Agilent's mechanical data acquisition product segment allows us to combine the expertise of a market leader in acoustical analysis, shock and vibration with our expertise in high-density, modular test products and solutions. The strength of these two groups will provide all our customers with a powerful offering of new, leading edge products," said Paul Dhillon, executive vice president of VXI Technology.
The transaction is expected to close by the end of April 2003, subject to closing conditions.
About VXI Technology
Privately held, VXI Technology is headquartered in Irvine, California. The company is a global supplier of high-density modular test solutions, based on their award-winning line of modular instruments (VMIP(tm)) and signal switching systems (SMIP(tm)). More information is available on the web at www.vxitech.com.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics and life sciences. The company's 35,000 employees serve customers in more than 110 countries. Agilent had net revenue of $6 billion in fiscal year 2002. Information about Agilent is available on the Web at www.agilent.com.
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