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Ixia To Acquire BreakingPoint Systems, Inc.; Raises Low End Of Prior Q2 2012 Revenue Guidance


Monday, 2 Jul 2012 06:45am EDT 

Ixia announced that it has entered into a definitive agreement to acquire BreakingPoint Systems, Inc., for $160 million in cash, subject to adjustment based on BreakingPoint's net working capital and cash at closing. The transaction is anticipated to close in the third quarter of 2012. Stifel Nicolaus Weisel is acting as financial advisor and Bryan Cave LLP is acting as legal counsel to Ixia. AGC Partners is acting as financial advisor and Wilson Sonsini Goodrich & Rosati is acting as legal counsel to BreakingPoint. The Company updated its revenue guidance for the second quarter of 2012 to a range of $87 million to $89 million for its core business. This compares to the previously stated guidance of $86 million to $89 million. In addition to this amount, Ixia expects its recent Anue Systems, Inc. acquisition to add approximately $3 million to $4 million in additional revenue in the second quarter for the period from the June 1, 2012 acquisition closing date to June 30, 2012. 

Company Quote

12.93
0.11 +0.86%
17 Apr 2014