Keithley sælger RF-produkterne til Agilent

Agilent har købt Keithleys program af RF-instrumenter (in english).

Keithley Instruments  has signed a definitive agreement with Agilent Technologies to sell substantially all of its RF product line to Agilent.

- Because we have placed a high emphasis on profitability in fiscal 2010 and beyond, we concluded that we could no longer continue to support our significant investment in RF measurement products, and should instead focus on growing our core business, states Joseph P. Keithley, Keithley's Chairman, President and Chief Executive Officer. 

- The impact of the economic downturn changed the expected timing of the returns we were anticipating from our RF product line, extending them beyond a time-frame that we were willing to continue to support.  We are pleased that Agilent will be assuming this product line.  Both Keithley and Agilent will work to provide high quality service and support through the transition for our customers using these products.

Subject to the completion of customary closing conditions, it is anticipated that the transaction will close around November 30, 2009.  Following the closing, it is anticipated that the majority of the RF team will become Agilent employees.  Under the terms of the agreement, Keithley will transfer substantially all of the assets associated with the RF product line and Agilent will assume certain related liabilities.  Agilent will provide global sales, service and support for the existing RF product line.

Keithley expects to receive cash proceeds of approximately $9 million and to realize a pre-tax gain in the range of $2.5 to $3.5 million during its first quarter ended December 31, 2009, as a result of the sale.