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Highlights
- Keysight to acquire Spirent Communications in an all-cash deal, pending final regulatory approvals.
- Spirent’s high-speed ethernet and network security businesses to be sold to Viavi Solutions as part of the regulatory process.
- Acquisition expected to complete in the first half of Keysight’s fiscal year ending 30 April 2025.
Keysight Technologies is progressing towards its acquisition of Spirent Communications (LSE:SPT), following an agreement to sell Spirent’s high-speed ethernet and network security business lines to Viavi Solutions. The divestment addresses regulatory concerns, bringing Keysight one step closer to finalizing the deal.
The acquisition, originally announced on 28 March 2024, will be executed through a Court-sanctioned scheme of arrangement under the Companies Act 2006. Spirent shareholders approved the deal on 22 May 2024, and Keysight has been working through regulatory requirements since then.
Strategic Divestment Clears Regulatory Hurdle
In December 2024, Keysight initiated a competitive auction to divest Spirent’s high-speed ethernet and network security units to satisfy regulatory conditions. The company has now reached an agreement with Viavi Solutions for the sale, which is contingent on the completion of the Spirent acquisition and the usual regulatory approvals.
Keysight expects the sale to Viavi to close shortly after the Spirent acquisition becomes effective, streamlining the process and ensuring compliance with competition regulations.
Acquisition Timeline and Regulatory Progress
The finalization of the Spirent acquisition remains subject to the remaining conditions outlined in the Scheme Document, including Court approval of the scheme. Keysight reiterated its commitment to working swiftly and collaboratively with regulators to complete the transaction.
With Spirent’s ongoing support, Keysight remains confident that the scheme will become effective within the first half of its fiscal year, which ends on 30 April 2025. The companies will continue monitoring the timeline closely and provide updates as necessary.
