Ixia has entered into a definitive agreement to acquire Anue Systems, a developer of network visibility solutions.
Under the terms of the agreement, Ixia will pay $145 million in cash, subject to certain adjustments including an adjustment based on the amount of Anue’s net working capital at closing.
The transaction is anticipated to close in the second quarter of 2012, and is subject to customary closing conditions and approvals.
Anue grew revenues 51% in 2011 to $40.5 million and generated gross margins of 83% for the year. For the 12 months ended March 31 Anue generated $47.6 million in revenues.
Ixia expects this transaction to be accretive to non-GAAP earnings beginning in the third quarter of 2012. Non-GAAP earnings exclude stock-based compensation, amortization of acquired intangible assets, and other non-recurring charges, net of the applicable tax effects.
As applications increasingly run in cloud networks and large data centers, service providers and large enterprises need better visibility into application performance. Traditional monitoring solutions cannot scale to successfully analyze the number of applications, services, and immense amounts of traffic across wired and mobile networks. Anue’s Net Tool Optimizer solution efficiently aggregates and filters network traffic to help optimize network monitoring tool usage.
This efficiency creates significant customer value by maximizing IT resources, streamlining network troubleshooting, and expanding network monitoring capacity. The terms of the agreement were unanimously approved by the boards of directors of both Ixia and Anue.