Keysight Technologies Inc of Santa Rosa, CA, USA (which provides electronic measurement instruments, systems and related software used in the design, development, manufacture, installation, deployment and operation of electronic equipment) has completed its acquisition of Ixia of Calabasas, CA, USA (a provider of network test solutions).
“This complementary combination accelerates several of our strategies for growth, including expanding our software solutions and software engineering capability,” says Keysight president & CEO Ron Nersesian. “We have also broadened our reach within the communications development lifecycle, and will build and grow Ixia’s established strong position in the fast-growing visibility and security markets,” he adds. “Keysight’s leadership now encompasses a unique range of end-to-end solutions for the development of next-generation technologies and optimizing and securing networks.”
Ixia serves the top 15 network equipment manufacturers, 47 of the top 50 carriers, and 77 of the Fortune 100. It also brings to Keysight more than 400 patents issued and pending and a team of over 1800 professionals.
The aggregate transaction totaled about $1.6bn, including transaction and financing fees and expenses and net of cash on hand at Ixia at the closing, with Ixia shareholders receiving $19.65 per share in cash. Keysight funded the transaction with a combination of cash on hand as well as proceeds from public offerings of stock and notes and additional debt financings. Ixia will no longer be traded on the Nasdaq Global Select Market and its financial results will be reported under Keysight’s newly formed Ixia Solutions Group.