Keysight to acquire Ixia for $1.6 Billion
Keysight Technologies has decided to buy U.S. data technology company Ixia for about $1.6 billion in cash in a bid to increase its software and security portfolio.
The deal comes as the increasing volume of data traffic flowing through social media, smartphones and cloud computing tests the resilience and integrity of networks, making Ixia's equipment and applications more popular with its clients and coveted by its peers.
"The addition of Ixia will allow Keysight to grow faster," said Keysight CEO Ron Nersesian.
Ixia makes equipment that monitors and tests networks so enterprise customers can have their data travel smoothly without bottlenecks. Its customers include Cisco Systems Inc.,
Santa Rosa, California-based Keysight spun off from life sciences manufacturer Agilent Technologies in 2014. Ixia would be its largest acquisition since it bought Britain's Anite Plc. Shares of Calabasas, California-based Ixia were trading nearly 7 per cent higher at $19.45 on Monday afternoon, while Keysight shares were down 0.2 per cent at $36.95.
Keysight has also announced that it had agreements in place with Errol Ginsberg, Ixia's Chairman & Founder, and top shareholder Katelia Capital Group to vote in favour of the deal.
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