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June 20, 2002
CRAWLEY, U.K. -- Spirent plc (LSE: SPT; NYSE: SPM), a leading international network technology company, announced today that it has agreed to acquire certain assets of the remote special services test product line of Anritsu Company US for a cash consideration of $26 million (approximately £17.4 million). Following completion of the acquisition, the remote special services test product line will be integrated into the Service Assurance division of Spirent’s Communications group. The acquisition is expected to be immediately earnings enhancing for Spirent.The Anritsu remote special services test product line includes systems to access, test and monitor the performance of networks for many of the world’s leading telecommunications service providers. Products being acquired by Spirent include Anritsu’s remote test probes and access units for HiCap (DS1 and DS3), Digital Data and voice frequency circuits, referred to as ‘special services’. Anritsu’s remote special services test systems currently monitor some two million circuits for some 20 service providers located in eight countries. For the year ended 31 March 2002, the product line being acquired generated unaudited revenues of $21.5 million (approximately £14.4 million).Nicholas Brookes, Chief Executive of Spirent, commented:“We are firmly focused on growing the Spirent Communications service assurance business. This acquisition further strengthens our award-winning broadband product portfolio and opens opportunities to expand our customer base. Three of the largest service providers in North America, Verizon, SBC and Qwest, have made significant commitments to Spirent’s service assurance solutions. This acquisition will bring us additional installed base in these customers as well as BellSouth, Korea Telecom and other important customers on which we can build.”Spirent PLCAnritsu Corp.
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