From a long-term HP, then Agilent, and now Keysight employee (retiree recently)... (emphasis added by CH)
The main subject for the meeting was the "new" company that would be comprised of Agilent's Test and Measurement group. After the change, Agilent will consist of just the Life Sciences products. "KeySight" corp will be the current EMG group (that would be us)
Jay Alexander presented the story, with Hamish ?? also speaking. I laughed when I heard the new corp. name. I thought they said KeyLite, - which sounded to me to be a beer name! Anyway it comes with a new logo which looks like a scope trace, -not bad for us.
As far as retiree benefits, we will be covered by KeySight. They foresee no changes in 2014 and 2015, because they will be totally occupied getting the new corp. going. They had no idea what might happen in 2016.
The whole thing appears to have been driven by the Life Sciences group. Evidently they could not understand our business. Maybe they want to stick to "drug testing"!! They think there will be higher growth opportunities in Life Sciences. Jay mentioned that the scopes part of Danaher is estimated to be less than 600M. We (CSprings) have grown between x2 and x3 times between 2002 and 2013. Rohde and Schwartz is a larger competitor to KeySight than is Danaher. EMG as a whole has been flat.
Corp HQ will be in Santa Rosa. Bob Witte runs the KeySight part of Agilent Labs.
Regarding the schedule of the split, I understood that KeySight will be a wholly owned subsidiary of Agilent this year. Next year KeySight will be separated.
I hope you find this interesting.