US Firm Viavi Set to Acquire Spirent Communications for Over $1 Billion

Spirent Communications, a UK telecoms firm, has seen a significant increase in its share value following the acceptance of a takeover bid by US-based Viavi Solutions. The deal, valued at approximately £1 billion ($1.27 billion), will see Viavi acquire Spirent at 175 pence per share in cash, along with a special dividend of 2.5 pence per share, on a fully diluted basis. This acquisition marks another instance of a British company being purchased by a foreign entity.

The transaction is anticipated to bolster the combined entity's capabilities in various technology sectors, including artificial intelligence, machine learning, security, cloud-native architecture, and automation. As part of the acquisition, Silver Lake, a private equity firm, will contribute an investment of $400 million to Viavi. The completion of the deal is subject to the approval of Spirent's shareholders.