Viavi Solutions to Acquire UK’s Spirent Communications for $1.28 Billion, Enhancing Tech Capabilities
Bollywoodfever, March 5: Viavi Solutions Inc, a leading U.S.-based communications equipment company, has announced its agreement to purchase Spirent Communications, a prominent British telecommunications testing firm, for approximately 1.01 billion pounds ($1.28 billion).
This strategic acquisition, revealed on Tuesday, will see Spirent shareholders receiving 175 pence per share, incorporating a special dividend of 2.5 pence per share, substituting any final dividend for the fiscal year ending December 31, 2023.
The offer price represents a significant premium of about 61.4% over Spirent’s closing share price of 108.4 pence as of March 4, leading to a surge in Spirent’s shares by up to 60% to 173.5 pence in early trading on Tuesday.
This acquisition is poised to significantly enhance Viavi Solutions’ capabilities in several cutting-edge technologies, including artificial intelligence and machine learning, security, cloud-native architecture, and automation.
Furthermore, as part of this agreement, Silver Lake, a global private equity firm, will contribute a long-term investment of $400 million into Viavi Solutions, underscoring the deal’s strategic importance and the potential for growth and innovation it brings to the company.
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