PRINT THIS PAGE KKR and Silver Lake to acquire Agilent's semiconductor unit for $2.66bn17/08/2005. Source: AltAssets. 
 US buy-out giant Kohlberg Kravis Roberts & Co. and technology-focussed private equity firm Silver Lake Partners are to acquire Agilent Technologies' Semiconductor Products Group for $2.66bn. KKR and Silver Lake are equal partners in the transaction.
SPG supplies advanced semiconductor components, modules and subsystems for consumer and commercial electronics applications with 6,600 employees worldwide. Following the transaction, the current president of SPG, Dick Chang, will become president and chief executive officer of SPG
James H Greene, Jr, a partner at KKR, said, 'We see this as an excellent opportunity to invest in a world-class, highly diversified semiconductor company with excellent cash flow, dedicated management, a unique culture, and strong prospects for future growth on a global basis.'
John R Joyce, a managing director of Silver Lake, added, 'SPG has an impressive reputation for industry leading technology and deep customer relationships. Its strong position in the markets it serves is a testament to the dedication of all 6,600 SPG employees worldwide. We are excited about the opportunity to work with the SPG team to build upon its already strong foundation of intellectual property, great people and unmatched commitment to meeting customers needs.'
KKR specialises in management buy-outs and has offices in New York, Menlo Park, and London.
Silver Lake focuses exclusively on large-scale investing in technology and related growth industries. The firm has offices in Menlo Park and New York.
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