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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def parse_segdict_key(self, key):
 """ Return ifo and name from the segdict key. """

        splt = key.split(':')
        if len(splt) == 2:
            return splt[0], splt[1]
        else:
            err_msg = "Key should be of the format 'ifo:name', got %s." %(key,)
            raise ValueError(err_msg)