Summary
Keysight Technologies, Inc. (KEYS) announced the completion of its acquisition of Ixia on April 18, 2017. This strategic move involved a merger where Ixia became a wholly-owned subsidiary of Keysight. The transaction was completed with Ixia shareholders receiving $19.65 per share in cash. This acquisition is expected to enhance Keysight's capabilities in network testing and visibility solutions. In connection with the acquisition, Keysight has also drawn down $400 million from its previously established senior unsecured term loan facility. This funding will be used to cover a portion of the aggregate merger consideration. Investors should note that this report details the completion of the acquisition and the associated financing, marking a significant step in Keysight's growth strategy.
Key Highlights
- 1Keysight Technologies has successfully completed the acquisition of Ixia for $19.65 per share in cash.
- 2Ixia has been merged into Keysight and will operate as a wholly-owned subsidiary.
- 3The acquisition aims to strengthen Keysight's position in network testing, visibility, and security solutions.
- 4Keysight drew $400 million from its senior unsecured term loan facility to finance part of the acquisition.
- 5The merger involved the cancellation and conversion of Ixia stock options and restricted stock units into cash payments.
- 6The company referenced previously filed financial statements for Ixia, indicating no new filings are required for this report.
- 7The transaction closed on April 18, 2017, following the merger agreement signed on January 30, 2017.