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Tuesday, July 14, 2015 3:30:20 PM
WESTFORD, Mass.--(BUSINESS WIRE)--NetScout Systems, Inc. (NASDAQ: NTCT), an industry leader in service assurance solutions, announced that it has completed the acquisition of Danaher Corporation’s (NYSE: DHR) Communications Business.
The transaction was valued at $2.3 billion, based on the issuance of 62.5 million shares of NetScout common stock, which closed yesterday at $36.89 per share, to Danaher’s shareholders. Acquiring the Tektronix Communications, Arbor Networks and parts of the Fluke Networks businesses from Danaher Corporation accelerates NetScout’s strategic progress by enabling the Company to offer a broader range of innovative service assurance and cyber security solutions. These solutions provide service providers, enterprises and public sector agencies with the intelligence and analytics required to help them maximize the benefits of powerful technology advances such as IP convergence, virtualization, cloud computing, mobility, bring your own device (BYOD) and the evolving Internet. The combined company will be well positioned to help its customers drive ROI on their network and broader IT initiatives while reducing the tangible risks associated with downtime, poor service quality and compromised security.
“This acquisition represents an important milestone for NetScout that enhances our ability to drive value for customers, stockholders, employees and other stakeholders,” stated Anil Singhal, president and CEO. “With a broader range of market-leading capabilities and technologies, as well as more extensive, global go-to-market and distribution resources, NetScout will be better positioned to capitalize on the many exciting opportunities we see to further expand our customer relationships around the world. We welcome over 2,000 new colleagues to NetScout and collectively, we are looking forward to realizing the Company’s potential in the marketplace.”
As previously disclosed, upon the completion of the transaction, James A. Lico, executive vice president with responsibility for Danaher’s Test & Measurement segment and Gilbarco Veeder-Root business, has been appointed to NetScout’s Board of Directors. With the appointment of Mr. Lico, NetScout’s Board of Directors has been expanded to eight members. An updated biography for Mr. Lico, age 49, is available on NetScout’s website at http://www.netscout.com/company/about-netscout/board-of-directors/.
NetScout also announced today that it has secured a new five-year, $800 million senior secured revolving credit facility that replaces its previous revolving credit facility of $250 million. The new credit facility can be used to support general working capital requirements as well as to help finance the repurchase of NetScout’s common stock under its recently approved 20 million share common stock repurchase plan. The new facility was led by a syndicate of banks with J.P. Morgan Securities LLC acting as the lead arranger.
About NetScout Systems, Inc.
NetScout Systems, Inc. (NASDAQ:NTCT) is a market leader in service assurance solutions that enable enterprise and service provider organizations to assure the quality of the user experience for business and mobile services. NetScout technology helps these organizations proactively manage service delivery and identify emerging performance problems, helping to quickly resolve issues that cause business disruptions or negatively impact users of information technology.
http://www.businesswire.com/news/home/20150714005946/en/NetScout-Systems-Completes-Acquisition-Danaher%E2%80%99s-Communications-Business#.VaVjBonbKUk
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