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JDSU to Buy Agilent Unit for $165M (2/11/10)
JDSU entered into a definitive agreement to acquire the network solutions communications test business of Agilent, including the unit's Long Term Evolution (LTE) network verification and deployment products, for $165 million in cash. The parties expect to close the transaction, subject to customary regulatory approvals, in June.
The Agilent unit being acquired by JDSU had annual revenue for its fiscal year ending Oct. 31 of $162 million from global sales of service assurance monitoring systems, drive test and protocol test instruments used by service providers and equipment manufacturers worldwide. JDSU expects the acquisition to be accretive to non-GAAP earnings per share on a quarterly basis and for the full fiscal year starting in fiscal 2011.
The acquisition significantly expands JDSU’s communications test position, including the emerging market for LTE solutions required by the dozens of wireless service providers and network equipment manufacturers upgrading to this next-generation technology.
The Agilent unit being acquired by JDSU has about 700 employees with business operations located in Colorado, the United Kingdom, Singapore and Beijing.
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