Verigy Prepares to Go Solo; Keith Barnes Takes Over

Agilent’s semiconductor test subsidiary, Verigy is preparing to go solo,
according to an article
in the Coloradoan. The company, which contains Agilent’s semiconductor and electronics manufacturing test business, is reportedly preparing its new office in Fort
Collins, Colorado USA. As of May 1, Keith Barnes became the president and CEO
of Verigy, replacing Jack Trautman. Trautman will continue to serve as a company
advisor. The spinoff began the initial steps in the public offering
process with the Securities and Exchange Commission on March 9. (Ref: Coverage).
The soon to be announced public offering date will likely be sometime in mid-2006.
According to the news article,
the initial offering will be valued at $115 million. The price for options was
not listed, the article indicated, but underwriters include Goldman, Sachs &
Co., Credit Suisse Securities (USA) LLC, Cowen & Company and Thomas Weisel
Partners LLC.