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Test & Measurement | November 23, 2009

Keithley Instruments sells RF Product Line to Agilent

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

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, the Company 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. The Company 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.
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