Tektronix is to acquire specialist communications software provider Inet Technologies in a $325 million deal.
The net purchase price will comprise approximately $250 million in Tektronix stock and $75 million in cash.
The transaction, which has been approved by both companies’ Boards of Directors, is subject to customary closing conditions, including Inet stockholder approval and certain regulatory approvals. It is expected to close around September 30, 2004.
With headquarters in Richardson, TX, Inet has approximately 500 employees worldwide and sales of $104 million in 2003. Founded in 1989, the company has developed two major product lines targeted at communications carriers – its Unified Assurance Solution products and its Diagnotics products.
Using its Unified Assurance Solution products, communications carriers are able to simultaneously monitor the performance of their voice and data services at the network, service and customer layers to detect network and service problems in real time, enabling the identification of specific customers impacted by network or service issues.
Inet’s Diagnostics products, on the other hand, assist network operators and equipment manufacturers in designing, deploying and maintaining current- and next-generation networks and network elements.
When the company is merged with Tektronix’ mobile protocol test business, combined sales from both companies products that target the network monitoring and protocol test markets are expected to exceed $200 million.