ANRITSU , one of the largest global providers of communication solutions, has signed a definitive agreement with Axcel and the management of NetTest to acquire NetTest. Anritsu will acquire 100% of the outstanding shares of NetTest. NetTest has offices in Copenhagen, with 480 employees and R&D locations in the US, France and Italy.
NatTest achieved revenues of approximately US$94m for the year ending December 2004. The company's wireless network monitoring solutions enjoyed a 28% global market share.
NetTest's products address IP Next Generation Networks and their convergence, including UMTS/3G mobile and VoIP technologies. The company also provides high-level field solutions addressing the broadband access network that is expanding in many major metropolitan areas.
Anritsu sees synergies in the technologies acquired with NatTest, which will enable faster development of new innovative solutions for customers when coupled with Anritsu's broad technology base. The combined organisation also further enhances Anritsu's capability to locally service and support customers at a higher technical level.
"The acquisition of NetTest will accelerate Anritsu's vision to be a global market leader in test and measurement,” said Anritsu's president, Hiromichi Toda.
“Together we will work closely with customers to create innovative solutions that increase customer value and create new demand. The addition of NetTest will expand Anritsu's business domain into the high growth markets for network performance monitoring and service assurance."
NetTest has been owned by Axcel II and management since the end of 2002, when the company was acquired from GN Great Nordic. Since the acquisition by Axcel and management, NetTest has repositioned itself from an all optical strategy to a network performance strategy.
During this period NetTest has developed and launched a broad range of new products and has won several new major telecom operator accounts.
Kaj Juul-Pedersen, chairman of the board and Allan J. Vestergaard, CEO and President of NetTest state in a joint statement: "We are pleased to see NetTest becoming an important cornerstone for growth and geographical expansion of a major recognised telecommunication T&M company. The acquisition by Anritsu gives NetTest a financially strong complimentary owner, which can accelerate the worldwide distribution of our products and expand product developments that NetTest has undertaken in the last years."
"Having completed successfully the restructuring and repositioning of NetTest and accelerated growth through significant product development, we believe it is now time to for a major industrial owner with strong technology competencies and a global presence to further develop NetTest,” said managing partner at Axcel, Christian Frigast. “We see Anritsu as such an ideal owner. We strongly believe that the employees and customers of NetTest will appreciate the merits of the combined company."
The transaction, which has been approved by the Boards of Directors of both companies, is expected to close before the end of August.