Keysight Technologies has completed its acquisition of Spirent Communications plc.
“Today marks a milestone for Keysight as we officially welcome Spirent into our company. By combining Keysight’s leading design, emulation, and test expertise with Spirent’s strengths in satellite emulation, positioning, and network automation, we are expanding the breadth of our portfolio to better serve our customers. This acquisition accelerates our strategy and positions us to deliver even greater value in a rapidly evolving technology landscape,” said Satish Dhanasekaran, Keysight’s President and Chief Executive Officer.
Spirent Communications plc is a global provider of automated test and assurance solutions for networks, cybersecurity, and positioning. Its products, services, and managed solutions help customers address the testing, assurance, and automation challenges of next-generation technologies, including 5G, SD-WAN, Cloud, and autonomous vehicles.
The aggregate transaction consideration totalled approximately £1.16 billion (around $1.46 billion) on a fully diluted basis. Spirent shareholders will receive a total of 202.5 pence per share, comprising 199 pence in cash, and the previously paid special dividends of 3.5 pence per share.
Spirent’s shares will be delisted from the London Stock Exchange effective 17th October. Its operations and financial results will now be integrated and reported within Keysight’s Communications Solutions Group.
Regulatory requirements successfully fulfilled
The completion of this transaction follows the satisfaction of all regulatory conditions outlined in prior announcements, including clearances from the US Department of Justice (DOJ), the UK Competition and Markets Authority, the French Ministry for the Economy, the German Federal Ministry for Economic Affairs and Climate Action, and the State Administration for Market Regulation (SAMR) in China.
In accordance with the consent decree entered into with the DOJ and undertakings made to SAMR, Keysight and Spirent have agreed to divest Spirent’s high-speed Ethernet, network security, and channel emulation business lines. This divestiture is expected to be completed on 16th October, 2025.
