Keysight Technologies, through its Keysight Netherlands BV indirect subsidiary, is to acquire the entire issued and to be issued ordinary share capital of Anite, a UK-based supplier of test and measurement solutions to the international wireless market.
At 126 pence per share, the acquisition values Anite (on a fully diluted basis) at approximately £388m. This cash acquisition has been unanimously recommended by the board of directors of Anite.
Anite, based in Fleet, is a global supplier of software-centric solutions that enable the efficient design and validation of chipsets, mobile devices and network equipment. Its customers include major manufacturers of mobile devices, chipsets and network equipment, mobile network operators, regulatory authorities, and independent test houses. With offices in 14 countries, Anite has more than 500 employees throughout the world.
"As a leading supplier of software solutions for wireless research and development, Anite is aligned with Keysight's strategy to grow in wireless and increase our software offerings," said Ron Nersesian, Keysight president and CEO.
"The combination of Keysight and Anite enables us to offer a broad portfolio of solutions throughout the wireless research and development cycle.
"This will help us to expand our portfolio into the software layer for design and validation, and expand Keysight's position as a supplier for wireless design and validation tools," added Nersesian.
The transaction is subject to a number of conditions as set forth in the announcement released today in accordance with Rule 2.7 of the UK Takeover Code, including regulatory approvals and the approval of Anite's shareholders. Subject to the satisfaction of the conditions, the transaction is expected to close by the end of October 2015.