Ixia to Acquire Anue Systems, for $145M in Cash
Ixia (NASDAQ: XXIA) announced today that it has entered into a definitive agreement to acquire Anue Systems, Inc., a leading developer of Network Visibility solutions. Under the terms of the agreement, Ixia will pay $145 million in cash, subject to certain adjustments including an adjustment based on the amount of Anue's net working capital at closing. The transaction is anticipated to close in the second quarter of 2012, and is subject to customary closing conditions and approvals.
Anue grew revenues 51 percent in 2011 to $40.5 million and generated gross margins of 83 percent for the year. For the 12 months ended March 31, 2012, Anue generated $47.6 million in revenues. Ixia expects this transaction to be accretive to non-GAAP earnings beginning in the third quarter of 2012. Non-GAAP earnings exclude stock-based compensation, amortization of acquired intangible assets, and other non-recurring charges, net of the applicable tax effects.
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