Ixia to buy Agilent's N2X data network testing lineup

OCTOBER 22, 2009 -- Ixia has signed a definitive agreement with Agilent Technologies Inc., under which Ixia will acquire Agilent's N2X Data Networks product line for $44 million in cash. Subject to customary closing conditions, the acquisition is scheduled to close on Oct. 30, 2009 and will include certain assets of the N2X product line, along with its customers, sales, and R&D teams.

"This strategic and decisive move accelerates our growth, captures additional market share, and positions Ixia to offer even greater value to our global customers and partners," says Atul Bhatnagar, president and chief executive officer of Ixia. "With our leadership position in high-speed Ethernet (10/40/100 Gbps) IP testing, we will leverage the N2X products and customer base to further penetrate markets, particularly in EMEA and Asia."

In addition to broadband and carrier access protocol expertise, the N2X offers an intuitive user interface. Ixia is committed to enhancing, developing, and supporting the N2X product line through 2015. To seamlessly support N2X customers, Ixia also announced its Fusion initiative, which allows N2X owners to take immediate advantage of Ixia's scalability, higher-speed Ethernet support, and Layer 4-7 application testing. Details of the Fusion program are available at www.ixiacom.com/Fusion.

"This is an exciting day for Agilent N2X customers, partners, and employees across the globe," says David Churchill, vice president and general manager of Agilent's Network and Digital Solutions Business Unit, Electronic Measurements Group. "N2X customers are accustomed to a strong tradition of easy-to-use test applications with extensive protocol support. Joining forces with Ixia will drive innovation and value across every aspect of the network testing marketplace."

Ixia has also reported that its net revenues for 3Q09 will be approximately $46.4 million, compared to earlier guidance of $42 to $47 million. This revenue estimate includes a full quarter of results for Catapult Communications Corp., which Ixia acquired in June 2009, but does not include any revenues related to its planned acquisition of Agilent's N2X business.

Moelis & Company is acting as financial advisor and Bryan Cave LLP is acting as legal counsel to Ixia on this transaction.


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