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31-501: In October 2017, ownership of the property was transferred to Vici Properties as part of a corporate spin-off , and it was leased back to Caesars. For more than a decade, legal gambling has not been a growing industry in Louisiana. Tribal casinos in Oklahoma have drawn a substantial share of gamblers away from Shreveport/Bossier City which was once the leading market for Louisiana. In 2019,

62-462: A Danish cancer diagnostics company, for $ 2.2 billion, to expand its presence in the life sciences industry. On September 19, 2013, Agilent announced its decision to separate into two publicly traded companies: Agilent, a life sciences, diagnostics, and applied markets company, and an electronic measurement company. The life sciences company retained the Agilent name and the electronic measurement company

93-429: A business to a parent company, a subsidiary company or a fellow subsidiary. One of the main reasons for what The Economist has dubbed the 2011 "starburst revival" is that "companies seeking buyers for parts of their business are not getting good offers from other firms, or from private equity". For example, Foster's Group , an Australian beverage company, was prepared to sell its wine business. However, due to

124-549: A firm, a university, or another organization. Spin-outs typically operate at arm's length from the previous organizations and have independent sources of financing, products, services, customers, and other assets. In some cases, the spin-out may license technology from the parent or supply the parent with products or services; conversely, they may become competitors. Such spin-outs are important sources of technological diffusion in high-tech industries. Terms such as hive-up, hive down or hive across are sometime used for transferring

155-441: A headcount in 1999 of 35,000, which had risen to 48,000 by May 2001, it had by early 2003 cut 18,500 positions. In 2001, in midst of this downsizing, Agilent sold its health care and medical products organization to Philips Medical Systems , and was noted as having a valuation of about $ 11 billion. HP Medical Products had been the second oldest part of Hewlett-Packard , acquired in the 1950s. In August 2005, Agilent announced

186-493: A mobile app that facilities high-quality remote technical support. Agilent’s digital advancements, including CrossLab Connect, have also improved lab optimization and sustainability by providing more efficient utilization of instruments, which can lower a lab’s energy consumption. Agilent is also a pioneer of the target enrichment used as part of a NGS workflow. The portfolio also includes sample prep, QA/QC instrumentation, 2100 bioanalyzers, and automation tools. In early 2023,

217-485: A plan to divest its semiconductor test business, composed of both the system-on-chip and memory test market areas. Agilent listed the new company as Verigy on the Nasdaq in mid-2006. In 2009, Agilent announced the closure of a subsection of its Test & Measurement division. The product lines affected included the automated optical inspection, solder paste inspection, and automated X-ray products [5DX] in 2004. In 2011,

248-494: A private company, Avago Technologies , until August 2009, when it was brought public in an IPO. After purchasing Broadcom Corporation in 2016, Avago changed its name to Broadcom Limited . Also in August 2005, Agilent sold its 47% stake in the light-emitting diode manufacturer Lumileds to Philips for $ 1 billion. Lumileds originally started as Hewlett-Packard 's optoelectronics division. Also in August 2005, Agilent announced

279-545: A renamed corporate entity. Many times, the management team of the new company are from the same parent organization. Often, a spin-off offers the opportunity for a division to be backed by the company but not be affected by the parent company's image or history, giving potential to take existing ideas that had been languishing in an old environment and help them grow in a new environment. Spin-offs also allow high-growth divisions, once separated from other low-growth divisions, to command higher valuation multiples. In most cases,

310-403: A section to another company or firm in exchange for cash or securities. Spin-offs are divisions of companies or organizations that then become independent businesses with assets, employees, intellectual property , technology , or existing products that are taken from the parent company . Shareholders of the parent company receive equivalent shares in the new company in order to compensate for

341-722: A year over year comparison, including the markets in Baton Rouge, Lake Charles and Shreveport/Bossier City. In September 2019, the Shreveport Times obtained information from the Louisiana Department of Health 's food safety inspection, and published their list of the Top 10 food establishments with the most critical violations. Several of the restaurants and bars inside the Horseshoe received violations, some of which were critical, causing

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372-451: Is known for investing in R&;D within its own research labs and those of leading universities to advance the state of knowledge in the life sciences, diagnostics, and chemical analysis space. In recent years, the company has advanced digital lab instrumentation and technology that improves lab workflow and overall efficiency and productivity. In 2020, Agilent introduced CrossLab Virtual Assist,

403-511: The Horseshoe to rank #1 in critical violations: A total of 66 violations, 20 rated as critical, most were corrected on site. On March 16, 2020, as part of his efforts to limit the number of people at gatherings to fewer than 50 and slow the spread of Coronavirus , Louisiana Governor John B. Edwards ordered the closure of all casinos until April 13, 2020. As a result, Horseshoe casino donated extra food to schools in Bossier Parish. The food

434-654: The clinical and routine diagnostics markets with a full suite of technology platforms. These include: automation , bioreagents, FISH probes , gas and liquid chromatography, immunohistochemistry , informatics , mass spectrometry , microarrays , spectroscopy , target enrichment, and vacuum technologies. Agilent also provides lab management services, including enterprise asset management , laboratory business intelligence, equipment management and service, software maintenance , regulatory compliance , sample preparation, genomics and cloning, GC and HPLC columns, spectrometry and spectroscopy supplies, and consumables. The company

465-463: The company announced a $ 725 million expansion of its nucleic acid-based therapeutics manufacturing facility in Frederick, Colorado . Agilent Technologies was created in 1999 as a spin-off of several business units of Hewlett-Packard including test & measurement, optics, instrumentation and chemical analysis, electronic components, and medical equipment product lines. The split was predicated on

496-404: The company announced it would acquire Seahorse Bioscience for $ 235 million. On July 7, 2016, Agilent announced that they had acquired U.K. based Cobalt Light Systems, which develops and manufactures Raman spectroscopy instruments, for £40 million in cash. In December the company acquired Multiplicom N.V. In January 2018, the company announced it would acquire Luxcel Biosciences, increasing

527-436: The company's cell analysis portfolio. In May, Agilent acquired Lasergen, Inc. after the end of its two-year option on a prior investment. In the same month it acquired digital laboratory management company, Genohm, Ultra Scientific, provider of chemical standards and reference materials and Advanced Analytical Technologies, Inc. (AATI), provider of capillary electrophoresis -based molecules for $ 250 million in cash. In August

558-507: The company, along with the University of California, Davis , announced that it would be establishing the "Davis Millimeter Wave Research Center". Agilent announced it would increase its life sciences engagement through the acquisition of Halo Genomics, based in Uppsala , Sweden, which was involved in next-generation sequencing technology development. On May 17, 2012, Agilent agreed to buy Dako,

589-477: The difficulty of growing HP's revenue stream and on the competitive vigor of smaller, more agile competitors. The company's launch slogan was "Innovating the HP Way", which capitalized on the strong HP corporate culture. The starburst logo was selected to reflect "a burst of insight" (or "spark of insight") and the name "Agilent" aimed to invoke the notion of agility as a trait of the new firm. The Agilent spin-off

620-485: The few remaining casinos in Bossier City, Horseshoe had the highest percentage-decrease in income in August 2020, at 43.7 percent compared to the previous year's earnings. In June 2018, all but one of the state's casinos experienced declines in revenue based on prior year's figures, except for Bossier City's Margaritaville Resort Casino, which experienced a 0.6 percent increase. All others were down by at least 10 percent in

651-467: The lack of a decent offer, it decided to spin off the wine business, which is now called Treasury Wine Estates . According to The Economist , another driving force of the proliferation of spin-offs is what it calls the " conglomerate discount " — that "stockmarkets value a diversified group at less than the sum of its parts". Some examples of spin-offs (according to the SEC definition): Examples following

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682-443: The loss of equity in the original stocks . However, shareholders may then buy and sell stocks from either company independently; this potentially makes investment in the companies more attractive, as potential share purchasers can invest narrowly in the portion of the business they think will have the most growth. In contrast, divestment can also sever one business from another, but the assets are sold off rather than retained under

713-457: The parent company or organization offers support doing one or more of the following: All the support from the parent company is provided with the explicit purpose of helping the spin-off grow. The United States Securities and Exchange Commission 's (SEC) definition of "spin-off" is more precise. Spin-offs occur when the equity owners of the parent company receive equity stakes in the newly spun off company. For example, when Agilent Technologies

744-420: The sale of its business which produced semiconductor integrated circuits (known as "chips") for consumer and industrial uses to Kohlberg Kravis Roberts and Silver Lake Partners for $ 2.66 billion. This move was part of a broad effort to concentrate "on the test-and-measurement business at its historic core," and would entail termination of about 1,300 of the company's 28,000 employees. The group operated as

775-468: The school system didn't use was picked-up by the Louisiana Food Bank. Corporate spin-off A corporate spin-off , also known as a spin-out , or starburst or hive-off , is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. It is distinct from a sell-off, where a company sells

806-482: The second definition of spin-out: An example of companies created by technology transfer or licensing: Agilent Technologies Agilent Technologies, Inc. is an American global company headquartered in Santa Clara, California, that provides instruments, software, services, and consumables for laboratories. Agilent was established in 1999 as a spin-off from Hewlett-Packard . The resulting IPO of Agilent stock

837-470: The steady declines due to the Covid outbreak have raised grave concerns over the future of a business sector considered crucial to the state's budget. In 2020, Horseshoe laid-off full and part-time employees, primarily in food services. Their once popular and notably expansive buffet has been permanently closed. Severance packages through the end of the year were offered to furloughed and full-time staff. As one of

868-610: Was accompanied by an initial public offering which raised $ 2.1 billion, setting a record at the time. In the early 2000s, "economic uncertainty" depressed demand for Agilent's products, including slow sales of health care products to hospitals in the United States, which accounted for 60% of the company's revenue at the time. The downturn also struck sales in the communications and semiconductor markets, where orders amounting to $ 500 million were canceled by buyers. These poor economic conditions prompted large reductions in force; from

899-495: Was called Keysight Technologies . On October 14, 2014, the company announced that it is exiting its Nuclear Magnetic Resonance business. On November 1, the formal separation of Agilent and Keysight Technologies was completed. Agilent announced it had completed the spin-off of its electronic measurement business, Keysight Technologies. Hewlett-Packard Co. , Agilent's predecessor, acquired F&M Scientific Corp., maker of gas chromatographs, on August 8, 1965. In September 2015,

930-484: Was spun off from Hewlett-Packard (HP) in 1999, the stockholders of HP received Agilent stock. A company not considered a spin-off in the SEC's definition (but considered by the SEC as a technology transfer or licensing of technology to the new company) may also be called a spin-off in common usage. A second definition of a spin-out is a firm formed when an employee or group of employees leaves an existing entity to form an independent start-up firm. The prior employer can be

961-452: Was the largest in the history of Silicon Valley at the time. From 1999 to 2014, the company produced optics (LED, laser), semiconductors , EDA software and test and measurement equipment for electronics; that division was spun off to form Keysight . Since then, the company has continued to expand into pharmaceutical, diagnostics & clinical, and academia & government (research) markets. Agilent serves analytical laboratories and

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