Agilent Technologies

Agilent Technologies, Inc.
Public
Traded as
Industry
  • Healthcare equipment and services
Founded 1999 (spun off from HP)
Founder Bill Hewlett, David Packard (from HP)
Headquarters Santa Clara, California,
United States
Area served
 Worldwide
Key people
  • Mike McMullen (CEO)
Products Instruments, software, services and consumables for laboratory use
Revenue IncreaseUS$4.5 billion (2017)[1]
IncreaseUS$841 million (2017)[1]
IncreaseUS$684 million (2017)[1]
Total assets IncreaseUS$8.4 billion (2017)[1]
Total equity IncreaseUS$4.8 billion (2017)[1]
Number of employees
 13,500 (October 2017)[1]
Divisions
  • Agilent CrossLab Group
  • Diagnostics & Genomics Group
  • Life Sciences & Applied Markets Group
Website www.agilent.com

Agilent Technologies is an American public research, development and manufacturing company established in 1999 as a spin-off from Hewlett-Packard. The resulting IPO of Agilent stock was the largest in the history of Silicon Valley at the time.[2][3]

The company provides analytical instruments, software, services and consumables for the entire laboratory workflow.[4] Agilent focuses its products and services on six markets: food, environmental and forensics, pharmaceutical, diagnostics, chemical and energy, and research. From 1999 to 2014, the company also produced test and measurement equipment for electronics; that division was spun off to form Keysight.

Operations

Based on 2003 information, Agilent maintained four locations in the San Francisco Bay area: San Jose, Santa Clara, Santa Rosa and Rohnert Park.[5] Santa Clara is an R&D site,[5] containing the Agilent Research Laboratories group. Based on 2006 information, Agilent maintained seven sites in China: an office in Beijing, and branches in Shanghai, Chengdu, Guangzhou, Shenyang, Shenzhen and Xi'an.[6] Agilent also has several manufacturing facilities across Europe, most notably in Waldbronn Germany, Oxfordshire U.K. and Glostrup Denmark.

Products and services

Agilent serves analytical laboratories and the clinical and routine diagnostics markets with a full suite of technology platforms. These include: automation, bioreagents, FISH probes, gas and liquid chromatography, immunohistochemistry, informatics, mass spectrometry, microarrays, spectroscopy, target enrichment, and vacuum technologies.[7]

Agilent also provides the lab management services and lab supplies: enterprise asset management, laboratory business intelligence, equipment management and service, software maintenance, regulatory compliance, sample preparation, genomics and cloning, GC and HPLC columns, spectrometry and spectroscopy supplies, and general laboratory supplies.[7]

History

Agilent Technologies headquarters lobby in Santa Clara, California

Agilent Technologies was created in 1999 by the spin-off of Hewlett-Packard's (HP's) "Medical Products and Instrument Group",[8] including instrumentation and chemical analysis, electronic components, and medical equipment product lines.[9][note 1] The split was predicated on the difficulty of growing HP's revenue stream and on the competitive vigor of smaller, more agile competitors.[10] The company's launch slogan was "Innovating the HP Way", which capitalized on the strong HP corporate culture.[10] The starburst logo was selected to reflect "a burst of insight" (or "spark of insight")[11] and the name "Agilent" aimed to invoke the notion of agility as a trait of the new firm.[10] The Agilent spin-off was accompanied by an initial public offering which raised $2.1 billion, setting a record at the time.[2]

2000–2009

In the early 2000s, "economic uncertainty" depressed demand for Agilent's products,[12] including slow sales of health care products to hospitals in the United States, which accounted for 60% of the company's revenue at the time.[8] The downturn also struck sales in the communications and semiconductor markets, where orders amounting to $500 million were canceled by buyers.[13] These poor economic conditions prompted large reductions in force; from a headcount in 1999 of 35,000, which had risen to 48,000 by May 2001,[13] it had by early 2003 cut 18,500 positions.[12] In 2001, in midst of this downsizing, Agilent sold its health care and medical products organization to Philips Medical Systems,[14] and was noted as having a valuation of about $11 billion.[15] HP Medical Products had been the second oldest part of Hewlett-Packard, acquired in the 1950s.

In August 2005, Agilent announced the sale of its semiconductor business, which produced chips for a wide range of consumer and industrial uses, to Kohlberg Kravis Roberts and Silver Lake Partners for $2.66 billion.[2] This move was part of a broad effort to concentrate "on the test-and-measurement business at its historic core," and would entail termination of about 1,300 of the company's 28,000 employees.[2] The group operated as a private company, Avago Technologies, until August 2009, when it was brought public in an IPO. After purchasing Broadcom Corporation in 2016, Avago changed its name to Broadcom Limited.

Also in August 2005, Agilent sold its 47% stake in the light-emitting diode manufacturer Lumileds to Philips for $1 billion.[2] Lumileds originally started as Hewlett-Packard's optoelectronics division.

Also in August 2005, Agilent announced a plan to divest its semiconductor test solutions business, composed of both the system-on-chip and memory test market areas.[2] Agilent listed the new company as Verigy on NASDAQ in mid-2006.

2010 onwards

In 2009, Agilent announced the closure of a subsection of its Test & Measurement division. The product lines affected included the automated optical inspection, solder paste inspection, and automated X-ray products [5DX]. In 2004, Agilent reported that it had captured 19% of the $244 million (excluding Japan) global imaging inspection market.[16] On July 27, 2009, Agilent announced they would buy Varian, Inc., for $1.5 billion. In November 2009, Agilent sold the N2X product line to IXIA. In February 2010 Agilent announced the selling of its Network Solutions Division to JDSU for $162 million.

In 2011, the company, along with the University of California, Davis, announced that it would be establishing the "Davis Millimeter Wave Research Center".[17] Agilent announced it would increase its life sciences engagement through the acquisition of Halo Genomics, based in Uppsala, Sweden, which was involved in next-generation sequencing technology development.[18]

On May 17, 2012, Agilent agreed to buy Dako, a Danish cancer diagnostics company, for $2.2 billion, to expand its presence in the life sciences industry.[19]

On September 19, 2013, Agilent announced its decision to separate into two publicly traded companies: Agilent, a life sciences, diagnostics, and applied markets company, and an electronic measurement company.[20] The life sciences company retained the Agilent name and the electronic measurement company was called Keysight Technologies.[21] On October 14, 2014, the company announced that it is exiting its Nuclear Magnetic Resonance business.[22] On November 1, the formal separation of Agilent and Keysight Technologies was completed.[3] Agilent announced it had completed the spin-off of its electronic measurement business, Keysight Technologies. Keysight began trading on the New York Stock Exchange under the symbol KEYS. The separation was implemented through a spinoff of Keysight's common stock and was intended to be tax-free for U.S. federal income tax purposes. On November 1, 2014, in a special dividend distribution of all outstanding shares of Keysight's common stock, Agilent shareholders received one share of Keysight common stock for every two shares of Agilent common stock held as of close of business October 22, 2014.[23]

Agilent celebrated its 50th anniversary in the analytical instruments market. Hewlett-Packard Co., Agilent's predecessor, acquired F&M Scientific Corp., maker of gas chromatographs, on August 8, 1965. In September 2015, the company announced it would acquire Seahorse Bioscience for $235 million.[24]

On July 7, 2016, Agilent announced that they had acquired U.K. based Cobalt Light Systems, which develops and manufactures Raman spectroscopy instruments, for £40 million in cash.[25]

In January 2018, the company announced it would acquire Luxcel Biosciences, increasing the company's cell analysis portfolio.[26] In September Agilent acquired ACEA Biosciences for $250 million increasing the companies presence in cell analysis technologies.[27]

Corporate governance

Agilent's inaugural president and chief executive officer was Ned Barnholt[10] who retained this post at least through 2006.[14] Barnholt had originally joined Hewlett-Packard in 1966.[28]

In September 2014, William (Bill) Sullivan announced plans to retire as Agilent's CEO.[29] Mike McMullen, then president of the company's Chemical Analysis Group, was to succeed Sullivan as CEO.[29] As part of the succession plan announcement, McMullen was promoted to the roles of president and chief operating officer (COO).[29]

In 2015, McMullen was elected by Agilent's board of directors to the post of CEO, becoming Agilent's third CEO.[29][30]

Ownership

As of 2017, Agilent Technologies is mainly held by institutional investors: T. Rowe Price, BlackRock, Fidelity Investments, The Vanguard Group, State Street Corporation, and others.[31]

See also

Notes

  1. ↑ Year of establishment: at least one alternative source (Fordahl 2005) places the start year for Agilent as 2000.

References

  1. 1 2 3 4 5 6 "US SEC: Form 10-K Agilent Technologies, Inc". United States Securities and Exchange Commission. Archived from the original on February 21, 2018. Retrieved February 20, 2018.
  2. 1 2 3 4 5 6 Fordahl, Matthew (17 August 2005). "Agilent to sell chip unit for $2.66 billion, cut 1,300 jobs". Ukiah Daily Journal. Ukiah, California. p. 3. Archived from the original on 29 July 2015. Retrieved 2015-07-27 – via Newspapers.com.
  3. 1 2 Arensman, Russ (1 October 2002). "Unfinished business: managing one of the biggest spin-offs in corporate history would be a challenge even in the best of times. But what Agilent's Ned Barnholt got was the worst of times". Electronic Business. Reed Business Information (28.10). Archived from the original on 16 October 2015 – via HighBeam Research.
  4. ↑ "Company Information". About Agilent. Agilent Technologies. Archived from the original on 2015-08-01. Retrieved 2015-07-28.
  5. 1 2 Herman, Erik L. (2003). The San Francisco Bay Area Jobbank. Holbrook, Massachusetts: Adams Media. pp. 112–3. ISBN 9781580628624. OCLC 53991596 – via Google Books (preview).
  6. ↑ China Foreign Enterprise Directory 2006 (2nd ed.). Hong Kong: China Economic Review Publishing. 2005. p. 303. ISBN 9789889825461 – via Google Books (preview).
  7. 1 2 http://www.chem.agilent.com/en-US/Solutions/Pages/default.aspx#%5Bpermanent+dead+link%5D
  8. 1 2 Staff (15 August 2000). "Agilent plans to shed 450 full-time workers". Marketplace. Santa Cruz Sentinel. p. 20. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com.
  9. ↑ "Agilent Technologies: оборудование для измерений, тестирования и химического анализа" [Agilent Technologies: Equipment for measurement, testing and chemical analysis]. DM Lieferant. Archived from the original on 2015-08-12. Retrieved 2015-07-27.
  10. 1 2 3 4 Belasen, Alan T. (2007). "The Power of Symbols: Creating Corporate Identity at Agilent Technologies (Case Study)". The Theory and Practice of Corporate Communication: A Competing Values Perspective. Los Angeles, California: SAGE. p. 54. ISBN 9781412950350. OCLC 122974220 – via Google Books (preview).
  11. ↑ "HP names spin-off 'Agilent'". Santa Cruz Sentinel. Associated Press. 29 July 1999. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com.
  12. 1 2 "Agilent Technologies slashes 4,000 more jobs". Santa Cruz Sentinel. Associated Press. 24 February 2003. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com.
  13. 1 2 Bergstein, Brian (18 May 2001). "Agilent earnings fall short". Santa Cruz Sentinel. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com.
  14. 1 2 "Agilent spins off medical supply group to Royal Philips". Santa Cruz Sentinel. California. Associated Press. 18 November 2000. Archived from the original on 29 July 2015. Retrieved 2015-07-28 – via Newspapers.com.
  15. ↑ Bergstein, Brian (13 January 2001). "William Hewlett dies at 87". Santa Cruz Sentinel. p. A1. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com. HP's test and measurement equipment divisions were spun off last year into Agilent Technologies, Inc., an $11 billion business.
  16. ↑ Agilent Trade News Nov 2004
  17. ↑ Mokhoff, Nicolas (3 August 2011). "Agilent and UC Davis form millimeter research center". EE Times. San Francisco, California. Archived from the original on 16 October 2015. Retrieved 2015-07-28.
  18. ↑ "Agilent Acquires Two Life Science Companies" (Press release). Agilent Technologies. 7 December 2011. Archived from the original on 2012-02-11. Retrieved 2015-07-28 – via Drug Discovery & Development.
  19. ↑ Scott, Mark (17 May 2012). "Agilent to Buy Dako for $2.2 Billion". DealB%k. The New York Times. Archived from the original on 18 May 2012. Retrieved 2012-05-21.
  20. ↑ "Agilent Technologies to Separate Into Two Industry-Leading Public Companies" (Press release). Agilent Technologies. 19 September 2013. Archived from the original on 1 August 2015. Retrieved 2015-07-28.
  21. ↑ "Agilent Technologies Reveals Name of Electronic Measurement Spin-Off Company" (Press release). Agilent Technologies. January 7, 2014. Archived from the original on August 3, 2015. Retrieved 2015-07-28.
  22. ↑ "Agilent Technologies to Close Nuclear Magnetic Resonance Business" (Press release). Agilent Technologies. 14 October 2014. Archived from the original on 18 July 2015. Retrieved 2015-07-28.
  23. ↑ "Company History - About Keysight". about.keysight.com. 31 October 2017. Archived from the original on 21 February 2018. Retrieved 3 May 2018.
  24. ↑ "Archived copy". Archived from the original on 2016-04-27. Retrieved 2015-09-10.
  25. ↑ "Agilent Technologies Acquires Raman Spectroscopy Innovator, Cobalt Light Systems | Agilent". www.agilent.com. Archived from the original on 2017-09-22. Retrieved 2017-11-02.
  26. ↑ "Agilent Expands Cell Analysis Portfolio with Luxcel Acquisition - GEN". GEN. Archived from the original on 2018-01-10.
  27. ↑ https://www.genengnews.com/gen-news-highlights/agilent-acquires-cell-analysis-tools-developer-acea-biosciences/81256276
  28. ↑ "What they said about William Hewlett". Santa Cruz Sentinel. Associated Press. 13 January 2001. p. A9. Archived from the original on 1 August 2015. Retrieved 2015-07-28 – via Newspapers.com. -Ned Barnholt, who joined HP in 1966 and is now president and CEO of Agilent Technologies Inc. ....
  29. 1 2 3 4 "Agilent Technologies Announces CEO Transition: Mike McMullen to Succeed Bill Sullivan in March 2015" (Press release). Agilent Technologies. 17 September 2014. Archived from the original on 25 July 2015.
  30. ↑ "Mike McMullen". Company Information. Agilent Technologies. Archived from the original on 2015-08-03. Retrieved 2015-07-29.
  31. ↑ "Agilent Technologies, Inc. (A) Ownership Summary". NASDAQ.com. Archived from the original on 2017-08-20.

Further reading

Books

  • Leflar, James A. (2001). Practical TPM: Successful Equipment Management at Agilent Technologies. Portland, Oregon: Productivity Press. ISBN 9781563272424. OCLC 45493253 – via Google Books (preview).

News items

  • Frank, Steve (10 September 2000). "Playing the Net". Santa Cruz Sentinel. Retrieved 2015-07-28 – via Newspapers.com. Q: Last month I purchased shares of Agilent Technologies and the price has gone up and down since then. Are its future prospects solid?
  • Official website
  • "History Links: HP, Agilent, EDS, Compaq, Tandem..." Hewlett-Packard Alumni Association, Inc. Retrieved 19 December 2014.
  • "Patents assigned to Agilent". US Patent and Trademark Office. Retrieved 19 December 2014.
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