Keysight Technologies, Inc. (NYSE: KEYS) is now a larger company, as its previously announced acquisition of Ixia (NASDAQ: XXIA) closed. The deal cost Keysight approximately $1.6 billion, including transaction and financing fees and expenses and net of cash on hand.
Ixia shareholders received $19.65 per share in cash as part of the deal, which Keysight announced this past January (see "Keysight confirms Ixia buy"). Keysight will report its new assets' financial performance under the newly created Ixia Solutions Group.
"We are pleased to have quickly brought the Ixia acquisition to completion and excited to add Ixia's deep bench of talent to the Keysight team. This complementary combination accelerates several of our strategies for growth, including expanding our software solutions and software engineering capability. We have also broadened our reach within the communications development lifecycle, and will build and grow Ixia's established strong position in the fast-growing visibility and security markets," said Ron Nersesian, Keysight president and CEO.
Ixia provided test and measurement systems to a wide variety of customer, including the top 15 network equipment manufacturers, 47 of the top 50 carriers, and 77 of the Fortune 100. It had an employee base of more than 1,800.
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