Test and measurement vendor Tektronix Inc. has announced plans to acquire Inet Technologies Inc., a provider of com...
June 30, 2004
Test and measurement vendor Tektronix Inc. has announced plans to acquire Inet Technologies Inc., a provider of communications software that enable network operators to more strategically and profitably operate their businesses.
Inet’s products address next-generation networks including 2.5G and 3G mobile data and VoIP technologies and traditional networks.
Founded in 1989, the company had sales last year of US$104 million.
Tektronix will acquire all of Inet’s outstanding stock for approximately US$12.50 per share consisting of US$6.25 per share in cash and approximately US$6.25 per share in Tektronix’ stock. After adjusting for Inet’s US$172 million cash balance as of March 31, 2004, the net purchase price is approximately US$325 million.
“(Our) strategy is to develop leadership positions in selected test, measurement and monitoring product categories that are large and growing," said Rick Wills, chairman and CEO of Tektronix.