Mar 09, 2024 | Posted by Abdul-Rahman Oladimeji
IT communications company Viavi Solutions plans to acquire telecommunications testing company Spirent Communications for £1.005 billion ($1.27bn). This acquisition is to be funded by a mixture of Viavi's existing cash, a fully committed $800m seven-year term loan from Wells Fargo Bank, and a $400m investment in Viavi from Silver Lake.
“The Spirent Board intends to unanimously recommend this all-cash offer, which not only represents an attractive outcome for Spirent Shareholders but also provides a significant opportunity for employees, customers and other stakeholders through what is a highly strategic and highly complementary combination,” Sir Bill Thomas, chairman of Spirent, sad.
Oleg Khaykin, president and CEO of Viavi, added: “Combining our leading communications test and measurement and optical technologies and Spirent’s high-performance testing and assurance solutions is expected to deliver enhanced product solutions and applications, accelerate growth in new markets and strengthen innovation through expanded engineering and design capabilities."
