5/5/2003 - VXI Technology Inc. has successfully completed its acquisition of the mechanical data acquisition product segment of Agilent Technologies Inc. (NYSE: A). This product segment is a part of Agilent's test and measurement business. Financial details of the acquisition, first announced on March 24, were not disclosed.
VXI Technology designs and manufactures high-density modular instruments and signal switching systems for electronics manufacturers and suppliers. The product segment the company has acquired from Agilent includes the manufacture and sale of high-density modular measurement and analysis instruments for use in vibration, shock and acoustical analysis applications.
"We are very excited about this acquisition, which allows us to bring the experience and pedigree of two world-renowned modular instrument families together and move forward in the development of next-generation high-density modular instruments," said Art Graafmans, president of VXI Technology. "These new products complement our present instrument offering and allow us to leverage our technology into the mechanical data acquisition marketplace."
With VXI Technology's purchase of Agilent's mechanical data acquisition product segment, Agilent can continue its focus on providing solutions for electrical test applications in manufacturing and engineering, including VXI-based products.
"VXI Technology is well positioned in the marketplace and has the expertise to move the technology forward for the mechanical data acquisition product segment," said Scott Sampl, vice president and general manager of Agilent's Basic Emerging and Systems Technologies division. "Agilent can now focus its expertise specifically on leading VXI-based solutions for electrical test applications."
Employees in the former Agilent VXI-based mechanical data acquisition product segment have joined VXI Technology.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global technology leader in communications, electronics, life sciences and chemical analysis. 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.
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.
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