VIAVI Solutions Agrees to Acquire Spirent Communications Valued at $1.3B
Portfolio Pulse from Benzinga Newsdesk
VIAVI Solutions (NASDAQ:VIAV) has agreed to acquire Spirent Communications for approximately $1.3 billion in cash. The acquisition, recommended by Spirent's Board, values Spirent at about £1,005 million. Spirent shareholders will receive 172.5 pence per share plus a special dividend of 2.5 pence. The deal is expected to close in the second half of 2024, pending shareholder and regulatory approvals. Spirent Directors holding shares have already expressed their support for the acquisition.
March 05, 2024 | 7:29 am
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VIAVI Solutions is set to acquire Spirent Communications for approximately $1.3 billion, aiming to expand its communications technology portfolio.
The acquisition of Spirent Communications by VIAVI Solutions is a significant strategic move that could enhance VIAVI's product offerings and market position. Given the unanimous recommendation by Spirent's Board and the support from Spirent Directors, the acquisition is likely to proceed smoothly, subject to regulatory and shareholder approvals. This move could potentially lead to positive market sentiment towards VIAVI, reflecting in a short-term uptick in its stock price.
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