Ixia Acquires Network Security Testing CompanyMonday, July 2, 2012
Ixia on Monday said it reached a definitive agreement to acquire BreakingPoint Systems Inc. of Austin, Texas for about $160 million in cash
The Calabasas maker of network testing products for telecom service providers and other large companies said BreakingPoint will enable it to offer customers a way to monitor and test computer networks for their susceptibility to attacks by viruses and malware.
“The current threat landscape is changing everything – from the way we conduct business, to how we protect data and secure infrastructures, to the ways we train cyber warriors," said Chief Executive Vic Alston in a statement. “The use of disparate testing tools, threat intelligence, and monitoring products allows dangerous security vulnerabilities that erode the security posture of businesses and government agencies.”
The final acquisition price is subject to adjustment based on BreakingPoint's net working capital and cash at closing, which is expected to take place in the third quarter.
BreakingPoint is Ixia’s second Austin acquisition in recent months. In May, the company said it was buying testing competitor Anue Systems Inc. for $145 million.
Shares were down 17 cents, or 1.4 percent, to $11.85 in midday trading on the Nasdaq.