Spirent Acquires Zarak Systems
Spirent plc, the international network technology
company, announces that it has entered into a conditional agreement to
acquire the entire
share capital of Zarak Systems Corporation
('Zarak') of Sunnyvale, California for 44.7 million Spirent plc shares.
At the Spirent share price of
£6.36 at the close of business on 8 September 2000
this equates to a value of £284 million ($403 million). The acquisition
is expected to
enhance headline EPS, prior to goodwill
amortisation, from the outset.
Commenting on the acquisition, Nicholas Brookes, Chief Executive of Spirent plc, said: "Zarak is a fantastic business that has achieved exceptional growth rates. The acquisition marks the next step in Spirent's development of the world's leading suite of performance analysis solutions, now a key enabling component of the Internet and corporate IT infrastructures. As Voice over IP has become a critical issue in the network, Zarak strongly reinforces Spirent's position at the leading edge of this technology."