Agilent Acquires Optical Transceiver Test Assets from PXIT

Agilent Technologies Inc. (NYSE:A) and PXIT Inc. announced they have signed a definitive agreement for Agilent to purchase assets of the optical transceiver test segment of PXIT. PXIT, based in Lexington, Mass., is a leading provider of cost-effective signal integrity testing solutions for broadband optical transceiver manufacturers. The transaction is subject to standard closing conditions. Financial details were not disclosed.

The combined technology and capabilities of these companies will allow Agilent to continue to innovate in the strong and evolving manufacturing test market, providing R&D and manufacturing customers with increasingly flexible, cost-effective, fast and accurate test systems. The acquisition benefits both companies by combining PXIT’s technology with Agilent’s worldwide channel to lead the optical transceiver test market. Agilent will make offers to all of PXIT’s Lexington-based employees.

“This acquisition will further strengthen Agilent’s leadership in optical transceiver test systems and supports our ongoing commitment to the manufacturing test market,” said Stephen W. Hinch, general manager of Agilent’s Digital Signal Analysis Business Segment. “PXIT’s vector-sampling technology will provide broadband optical transceiver manufacturers with a cost-effective solution that is flexible, accurate and faster than other technology available today.”

“Agilent’s proposed acquisition of PXIT assets is the ultimate endorsement of the innovative and customer-driven product designs pioneered by PXIT,” said Ultan O’Raghallaigh, CEO of PXIT. “Access to Agilent’s global sales network will optimize the opportunity for PXIT’s products to become the predominant solution in manufacturing test in the optical communications industry.”

About PXIT
PXIT develops and manufactures test and measurement systems primarily for use in high-speed data communications. Based in Lexington, Mass., the company was formed through the merger of Tsunami Photonics Limited with PX Instrument Technology and more recently with FiberGrade Inc.

About Agilent Technologies
Agilent Technologies Inc. (NYSE:A) is the world’s premier measurement company and a technology leader in communications, electronics, life sciences and chemical analysis. The company’s 19,000 employees serve customers in more than 110 countries. Agilent had net revenue of $5.0 billion in fiscal year 2006.