Ixia to Buy CompetitorMonday, May 7, 2012
Ixia on Monday said that it will buy Anue Systems Inc. for $145 million in cash.
The Calabasas maker of network testing products for telecom service providers and other large companies said that privately held Anue makes similar products. The combination will make Ixia a bigger player in its market.
“Many networking trends … are fueling both Ixia's and Anue's growth," said Ixia Chief Operating Officer Vic Alston in a statement. "Next-generation cloud providers, mobility operators and enterprises all require network and traffic visibility to maintain quality of service across application and service delivery.”
Anue reported revenue of $47.6 million for the 12 months ended March 3. The acquisition, which is expected to close in the current quarter, will add to adjusted profit in the third quarter, Ixia said.
Shares were down 8 cents, or less than 1 percent, to $11.82 in midday trading on the Nasdaq.