Keysight Technologies has outbid Viavi Solutions to buy Spirent Communications for about 1.16 billion pounds ($1.46 billion).
Keysight offered 201.5 pence per share, topping Viavi’s 175 pence bid in early March, 2024. Meanwhile, Spirent Communications, which had earlier agreed to a deal with Viavi, withdrew its support as it was 15 per cent lower than the Keysight offer.
Keysight’s offer represents a premium of 85.9 per cent to Spirent’s closing price of 108.4 pence on March 4, 2024 higher than Viavi’s 61.4 per cent premium.
Furthermore, Keysight’s deal would lead to headcount reductions of less than 5 per cent across the combined group.
