(Source: Business Wire)
Ixia
(Nasdaq: XXIA) announced today that it has signed a definitive agreement
with Agilent
Technologies, Inc. (NYSE: A) ("Agilent"), under which Ixia will
acquire Agilent's N2X
Data Networks Product Line for $44 million in cash.Subject to customary
closing conditions, the acquisition is scheduled to close on October 30,
2009 and will include certain assets of the N2X product line, along with
its world-class customers, sales and R&D teams.
"This strategic and decisive move accelerates our growth, captures
additional market share and positions Ixia to offer even greater value
to our global customers and partners," said Atul Bhatnagar, President
and CEO of Ixia. "With our leadership position in high speed Ethernet
(10/40/100 Gbps) IP testing, we will leverage the N2X products
and customer base to further penetrate markets, particularly in EMEA and
Asia."
In addition to strong broadband and carrier access protocol expertise,
the N2X is known in the industry for its intuitive and powerful user
interface and excellent quality. Ixia is committed to enhancing,
developing and supporting the N2X product line through 2015. To
seamlessly support N2X customers, Ixia today also announced its Fusion
initiative, which allows N2X owners to take immediate advantage of
Ixia's extreme scalability, higher speed Ethernet support, and layer
4-7 application testing. Details of the Fusion program are
available at www.ixiacom.com/Fusion.
"This is an exciting day for Agilent N2X customers, partners and
employees across the globe," said David Churchill, Vice President and
General Manager of Agilent's Network and Digital Solutions Business
Unit, Electronic Measurements Group, "N2X customers are accustomed to a
strong tradition of easy-to-use test applications with extensive
protocol support. Joining forces with Ixia will drive innovation and
value across every aspect of the network testing marketplace."
Ixia also announced today that its net revenues for the third quarter of
2009 will be approximately $46.4 million, compared to earlier guidance
of $42 to $47 million. This revenue estimate includes a full quarter of
results for Catapult Communications Corporation, which Ixia acquired in
June of this year, but does not include any revenues related to its
planned acquisition of Agilent's N2X business.
Moelis & Company is acting as financial advisor and Bryan Cave LLP is
acting as legal counsel to Ixia on this transaction.
Conference Call Information
Ixia will host a conference call to discuss this acquisition today, at
5:00 p.m. Eastern Time.
