Keysight has offered nearly $1.5 billion for Spirent
U.K.-based test and measurement company Spirent Communications is passing on Viavi Solutions’ previous $1.3 billion purchase proposal in favor of a higher bid from Keysight Technologies, and U.S.-based testing company. The new offer from Keysight includes a cash offer per share and special dividend for investors, coming to a total of nearly $1.5 billion.
In a statement, Spirent called the new offer “a superior proposition” compared to the proposal from Viavi, and the company’s Chief Executive Officer Eric Updyke commented that the deal will “provide further opportunities for our employees and strengthens our customer offering, given Keysight’s technology expertise, capabilities and robust global platform with its breadth and depth of industry-leading solutions.”
Keysight’s president and CEO Satish Dhanasekaran stated the Spirent’s “differentiated portfolio” makes the company a “strong fit” for Keysight. “Keysight’s long-term customer relationships, industry expertise and global reach will help Spirent drive product development and execute on its full potential,” he added.
While Spirent’s board intends to unanimously recommend Keysight’s cash offer, the deal remains subject to shareholder and regulatory approvals.
Viavi has yet to comment publicly on the recent change of plans, which no doubt has sent the company for a loop. However, Viavi has had several acquisition other wins lately, including its purchase of Jackson Labs in 2022, which specialized in positioning, timing and navigation; and, also in 2022, India-based CanGo Networks, which focused on automation, AIOps and 5G assurance.
