In 1999, Hewlett-Packard spun off its testing and measurement business to form Agilent Technologies, which at the time was the largest initial public offering in Silicon Valley history.
For ten years, Agilent had two primary businesses: one focused on life sciences technologies and chemical analysis solutions, and the other on electronic instruments. In 2014, with a high-growth life sciences business on its hands, the executive team at Agilent spun off the electronics business to form Keysight Technologies. Dan Krantz, who led the Agilent-Keysight IT separation, became CIO of Keysight in 2017.
Keysight pursued a three-pronged strategy to shift the focus from product sales to industry solution sales, increase R&D spend, and acquire new companies to grow the company from $2.8 billion to $4.6 billion in annual revenue.