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Agilent to Buy Objective

November 28, 2000|Bloomberg News

Agilent Technologies Inc., a test- and measurement-equipment maker, agreed to buy Objective Systems Integrators Inc. for about $665 million in cash to add software that helps manage telecommunications networks. Agilent, which was spun off from Hewlett-Packard Co. in June, will pay $17.75 for each Objective Systems share, or 31% more than Friday's close. The purchase is part of Agilent's push to focus on its fast-growing communications and measurement units. Shares of Palo Alto-based Agilent fell 44 cents to close at $50.50 on the New York Stock Exchange; Folsom, Calif.-based Objective rose $4 to close at $17.50 on Nasdaq.

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