Agilent sells network solutions unit to JDSU
Scientific instrument maker Agilent Technologies will sell its network solutions business to JDSU for $165 million in cash.
The unit, which monitors, tests and troubleshoots communications networks, recorded revenue of $162 million for 2009 and employs 700. It has operations in Colorado, the U.K., Singapore and China. The deal is expected to close in the second calendar quarter.
A spokeswoman for Agilent said the sale is not connected to its pending purchase of rival Varian Inc. for $1.5 billion in cash.
Shares of Agilent, based in Santa Clara, Calif., added a penny to $29.26 in midday trading on Thursday, February 18, 2010. JDS, based in Milpitas, Calif., provides testing and measurement services to telecommunications companies. Its shares rose 29 cents, or 3.5 percent, to $8.55.