Recommended Cash Acquisition of Spirent Communications by Keysight
Keysight Technologies (NYSE: KEYS) has announced an agreement with VIAVI Solutions (NASDAQ: VIAV) to sell Spirent's high-speed ethernet and network security business lines following Keysight's planned acquisition of Spirent Communications. The divestment is subject to regulatory approvals and completion of the main acquisition.
The company expects the divestment to complete shortly after the primary acquisition becomes effective. Keysight maintains that the Spirent acquisition represents a compelling combination for all stakeholders and is working with regulatory authorities to satisfy conditions. The company aims to complete the scheme during the first half of its fiscal year, ending April 30, 2025.
Additionally, Keysight and Spirent have entered into an amendment to their non-disclosure and clean team agreements dated March 9-10, 2024, with the amendment letter to be made available on both companies' websites.
Keysight Technologies (NYSE: KEYS) ha annunciato un accordo con VIAVI Solutions (NASDAQ: VIAV) per vendere le linee di business di ethernet ad alta velocità e sicurezza della rete di Spirent, a seguito dell'acquisizione pianificata di Spirent Communications da parte di Keysight. La vendita è soggetta ad approvazioni normative e al completamento dell'acquisizione principale.
L'azienda prevede che la vendita si concluda poco dopo che l'acquisizione principale diventi efficace. Keysight sostiene che l'acquisizione di Spirent rappresenti una combinazione interessante per tutti gli stakeholder e sta collaborando con le autorità di regolamentazione per soddisfare le condizioni. L'azienda punta a completare il piano durante la prima metà dell'anno fiscale, che termina il 30 aprile 2025.
Inoltre, Keysight e Spirent hanno stipulato un emendamento ai loro accordi di riservatezza e team dedicato datati 9-10 marzo 2024, con la lettera di emendamento che sarà disponibile sui siti web di entrambe le aziende.
Keysight Technologies (NYSE: KEYS) ha anunciado un acuerdo con VIAVI Solutions (NASDAQ: VIAV) para vender las líneas de negocio de ethernet de alta velocidad y seguridad de red de Spirent, tras la adquisición planificada de Spirent Communications por parte de Keysight. La desinversión está sujeta a aprobaciones regulatorias y a la finalización de la adquisición principal.
La empresa espera que la desinversión se complete poco después de que la adquisición principal entre en vigor. Keysight sostiene que la adquisición de Spirent representa una combinación atractiva para todas las partes interesadas y está trabajando con las autoridades regulatorias para cumplir con las condiciones. La empresa tiene como objetivo completar el plan durante la primera mitad de su año fiscal, que finaliza el 30 de abril de 2025.
Además, Keysight y Spirent han firmado una enmienda a sus acuerdos de confidencialidad y equipo limpio con fecha del 9-10 de marzo de 2024, y la carta de enmienda estará disponible en los sitios web de ambas empresas.
Keysight Technologies (NYSE: KEYS)는 VIAVI Solutions (NASDAQ: VIAV)와 Spirent Communications의 인수 계획에 따라 Spirent의 고속 이더넷 및 네트워크 보안 사업 부문을 판매하는 계약을 체결했다고 발표했습니다. 이 매각은 규제 승인 및 주요 인수 완료에 따라 달라집니다.
회사는 주요 인수가 효력이 발생한 후 곧 매각이 완료될 것으로 예상하고 있습니다. Keysight는 Spirent 인수가 모든 이해관계자에게 매력적인 조합을 나타낸다고 주장하며, 조건을 충족하기 위해 규제 당국과 협력하고 있습니다. 회사는 2025년 4월 30일로 종료되는 회계연도의 상반기 동안 이 계획을 완료하는 것을 목표로 하고 있습니다.
또한, Keysight와 Spirent는 2024년 3월 9-10일자로 된 비밀 유지 및 클린 팀 계약에 대한 수정안을 체결했으며, 수정안 서한은 두 회사의 웹사이트에서 제공될 예정입니다.
Keysight Technologies (NYSE: KEYS) a annoncé un accord avec VIAVI Solutions (NASDAQ: VIAV) pour vendre les lignes d'affaires Ethernet à haute vitesse et de sécurité réseau de Spirent, suite à l'acquisition prévue de Spirent Communications par Keysight. La cession est soumise à des approbations réglementaires et à la finalisation de l'acquisition principale.
La société s'attend à ce que la cession soit finalisée peu après que l'acquisition principale entre en vigueur. Keysight soutient que l'acquisition de Spirent représente une combinaison attrayante pour toutes les parties prenantes et collabore avec les autorités réglementaires pour satisfaire aux conditions. L'entreprise vise à finaliser le projet durant la première moitié de son exercice fiscal, qui se termine le 30 avril 2025.
De plus, Keysight et Spirent ont signé un amendement à leurs accords de non-divulgation et d'équipe dédiée datés des 9-10 mars 2024, et la lettre d'amendement sera disponible sur les sites Web des deux entreprises.
Keysight Technologies (NYSE: KEYS) hat eine Vereinbarung mit VIAVI Solutions (NASDAQ: VIAV) bekannt gegeben, um die Hochgeschwindigkeits-Ethernet- und Netzwerksicherheitsgeschäftsbereiche von Spirent zu verkaufen, nachdem Keysight die geplante Übernahme von Spirent Communications angekündigt hat. Der Verkauf unterliegt den Genehmigungen der Aufsichtsbehörden und dem Abschluss der Hauptübernahme.
Das Unternehmen erwartet, dass der Verkauf kurz nach Inkrafttreten der Hauptübernahme abgeschlossen wird. Keysight ist der Ansicht, dass die Übernahme von Spirent eine überzeugende Kombination für alle Beteiligten darstellt und arbeitet mit den Regulierungsbehörden zusammen, um die Bedingungen zu erfüllen. Das Unternehmen hat sich zum Ziel gesetzt, das Vorhaben in der ersten Hälfte seines Geschäftsjahres, das am 30. April 2025 endet, abzuschließen.
Darüber hinaus haben Keysight und Spirent eine Änderung ihrer Geheimhaltungs- und Clean-Team-Vereinbarungen vom 9.-10. März 2024 unterzeichnet, wobei das Änderungsdokument auf den Websites beider Unternehmen verfügbar sein wird.
- Proactive regulatory compliance through strategic divestment
- Clear timeline for acquisition completion by April 2025
- Maintains strategic value proposition for stakeholders
- Regulatory approval still pending
- Required divestment of revenue-generating business lines
- Complex transaction structure with multiple conditions
Insights
Keysight's acquisition of Spirent Communications is taking a significant step forward with this regulatory strategy announcement. The company has now entered an agreement with VIAVI Solutions to divest Spirent's high-speed ethernet and network security business lines following the completion of the main acquisition. This divestiture arrangement appears designed to address potential regulatory concerns about market concentration.
The transaction structure reveals Keysight's priorities - they're willing to sacrifice specific Spirent business segments to ensure the broader acquisition receives regulatory approval. The sequential approach (acquire Spirent first, then divest selected parts to VIAVI) indicates careful planning of the regulatory approval process.
For investors tracking deal progress, Keysight maintains its timeline expectation of closing the Spirent acquisition during the first half of its fiscal year (by April 30, 2025). This targeted divestiture strategy often proves more effective than extended regulatory negotiations and could help maintain the transaction schedule.
While the announcement lacks financial details about the divestiture's size or impact, the willingness to sell high-speed ethernet and network security business lines - potentially growth areas - suggests Keysight sees greater strategic value in other parts of Spirent's portfolio. This three-party transaction creates an interesting competitive dynamic, with VIAVI potentially emerging stronger in specific segments where Keysight might have otherwise gained market share.
- Update re: Acquisition of Spirent
The sale of the Divestment Business is subject to customary conditions, including regulatory approvals and completion of Keysight’s acquisition of Spirent (the “Acquisition”). Keysight currently expects the sale of the Divestment Business to complete shortly after the Acquisition becoming effective.
Keysight continues to believe that the Acquisition represents a highly compelling combination for both Keysight and Spirent stakeholders.
Consistent with Keysight’s approach to proactively address regulatory processes, Keysight remains committed to working quickly and constructively with the relevant regulatory authorities to satisfy the Conditions to the Acquisition. Keysight continues to actively work towards the Scheme becoming effective during the first half of Keysight’s current fiscal year (period ending 30 April 2025). The parties continue to keep the timetable under close review and will provide any updates as required.
Keysight notes that, on 7 October 2024, Keysight and Spirent entered into an amendment to a non-disclosure agreement between the parties and a clean team agreement between the parties, dated 9 March 2024 and 10 March 2024 respectively (the “Amendment Letter”). A copy of the Amendment Letter will be made available on Spirent and Keysight websites at https://corporate.spirent.com/ and https://investor.keysight.com/investor-resources/proposed- acquisition-of-spirent/.
Capitalised terms in this announcement, unless otherwise defined, have the same meanings given to them in the Update on Regulatory Clearances announcement in relation to the Acquisition published on 2 December 2024.
About Keysight Technologies
At Keysight (NYSE: KEYS), we inspire and empower innovators to bring world-changing technologies to life. As an S&P 500 company, we’re delivering market-leading design, emulation, and test solutions to help engineers develop and deploy faster, with less risk, throughout the entire product lifecycle. We’re a global innovation partner enabling customers in communications, industrial automation, aerospace and defense, automotive, semiconductor, and general electronics markets to accelerate innovation to connect and secure the world. Learn more at Keysight Newsroom and www.keysight.com.
Source: IR-KEYS
View source version on businesswire.com: https://www.businesswire.com/news/home/20250302378771/en/
Investor Contact:
Keysight Technologies, Inc.
investor.relations@keysight.com
Tel: +1 (707) 577-6916
Teneo (Public Relations Adviser to Keysight)
Martin Robinson
Olivia Peters
Tel: +44 (0)20 7260 2700
Source: Keysight Technologies, Inc.
FAQ
When is Keysight's acquisition of Spirent expected to complete?
What business units is KEYS divesting to VIAVI as part of the Spirent acquisition?
What regulatory steps is KEYS taking for the Spirent acquisition?
What agreements have been amended between KEYS and Spirent?
