JDSU to Acquire Network Instruments
JDSU is soon to add a new asset to its portfolio, if its latest acquisition goes as planned. The company has signed a definitive agreement to purchase Network Instruments, both firms announced in a joint press release. Network Instruments is a privately held firm the press release described as "a leading developer of enterprise network and application-performance management solutions." The base price is $200 million in cash, subject to certain adjustments.
In the press release trumpeting the news, JDSU touted the complimentary nature of Network Instruments' business, saying that it "further strengthens JDSU as a key solutions provider to the enterprise, data center and cloud networking markets."
At the moment, Network Instruments has roughly 125 employees, and it took in $40 million in revenue over the trailing-12-month period. JDSU said it expects the acquisition to be accretive to its non-GAAP earnings beginning in Q4 2014.
The acquisition is expected to close within 45 days.
At the end of its most recently reported quarter, JDSU had more than $449 million in cash and cash equivalents, against $518 million in long-term debt.
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