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Agilent chip division up for sale, say reports

Posted: 07 Jun 2005 ?? ?Print Version ?Bookmark and Share

Keywords:hewlett packard? electronics? test equipment?

Electronics and test equipment maker Agilent Technologies Inc., which was spun off from Hewlett Packard Co., is looking to sell its semiconductor products division, according to online reports which referenced the Wall Street Journal citing sources familiar with the matter.

The sale of the semiconductor group comes soon after Young K. Sohn, a former senior vice president of Agilent Technologies Inc. and former president of the semiconductor products group left the company (see March 14 story). The statement issued at the time offered no reason for Sohn's departure. It said Dick Chang, senior vice president of new business development at Agilent and former head of SPG, would fill Sohn's position on an interim basis.

On Monday (June 6) the Wall Street Journal said Goldman Sachs Group Inc. was handling the sale of the group which could raise about $1.5 billion to $2.0 billion, a Reuters report said.

Last year, the unit contributed $2 billion to Agilent's $7 billion in revenue. Semiconductor orders were $435 million during the first quarter of 2005, down 26 percent from one year ago but up 7 percent sequentially. First-quarter chip revenue, at $450 million, was 5 percent below last year and down 9 percent sequentially. Segment profit, at $27 million, was $33 million below last year's quarter on a $24 million drop in revenue. Sequentially, profit was $19 million higher, despite a $42 million drop in revenue.

- EE Times

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