Keysight Technologies (KEYS) has officially completed its split from parent company Agilent Technologies. The new electronic test and measurement company began regular trading on the New York Stock Exchange under the symbol KEYS today.
Stock was distributed on Friday at the close of business, with about 167.5 million shares of Keysight common stock distributed to Agilent stockholders. Its stock was trading at about $31.30 around midday on Monday, down about half a percent from its opening price. Keysight’s stock will be joining the S&P Midcap 400, while parent company Agilent remains in the S&P 500 with its focus continuing on life sciences.
Keysight started operating under its own name back in August and has been on a hiring spree as it geared up for the separation of the new company.
The new company is headquartered in Santa Rosa, Calif., and had fiscal 2013 revenues of $2.9 billion, retaining its place as one of the largest electronic test and measurement companies. Keysight has nearly 10,000 employees around the world.
