Anritsu to acquire NetTest

Anritsu has signed a definitive agreement to acquire NetTest, the leading global provider of network monitoring systems and field use communications test products.

Anritsu has signed a definitive agreement with Axcel and the management of NetTest to acquire NetTest, the leading global provider of network monitoring systems and field use communications test products.

Anritsu will acquire 100% of the outstanding shares of NetTest.

NetTest is headquartered in Copenhagen, Denmark and has 480 employees.

Other primary locations for R and D facilities are in the USA, France and Italy.

For the year ended 31st December 2004, NetTest had revenues of approximately US $94 million with sales in over 70 countries.

NetTest's wireless network monitoring solutions enjoy a 28% global market share.

These solutions enable service providers to optimise their network efficiency and service quality as well as operational efficiency and profitably.

NetTest's products address IP next generation networks and their convergence, including UMTS/3G mobile and VoIP technologies, as well as today's networks in all regions of the world.

NetTest also provides high-level field solutions that address the broadband access network that is expanding rapidly in many major metropolitan areas.

Anritsu sees synergies in the technologies acquired which will enable the faster development of new innovative solutions for customers when coupled with Anritsu's broad technology base.

On a combined basis, Anritsu and NetTest have an enviable customer base with a broad coverage of both equipment manufacturers and network operators.

In addition, the geographic presence of the combined organisation will further enhance Anritsu's ability to locally service and support customers at a higher technical level.

In addition to a strong US and western European presence, NetTest has developed robust business in rapidly growing economies, such as Eastern Europe, Russia, the Middle East and South America.

Anritsu, on the other hand, can very strongly support NetTest's business in Japan and other parts of the Asia Pacific region.

Anritsu's President, Hiromichi Toda, stated: "The acquisition of NetTest will accelerate Anritsu's vision to be a global market leader in test and measurement".

"Together we will work closely with customers to create innovative solutions that increase customer value and create new demand".

Toda also emphasised: "The addition of NetTest will expand Anritsu's business domain into the high growth markets for network performance monitoring and service assurance".

NetTest has been owned by Axcel II and management since the last day of 2002, when the company was acquired from GN Great Nordic.

Since the acquisition by Axcel and management, NetTest has repositioned itself from an all optical strategy to a network performance strategy.

During this period NetTest has developed and launched a broad range of new products and has won several new major telecomms operator accounts.

Kaj Juul-Pedersen, Chairman of the Board and Allan J Vestergaard, CEO and President of NetTest say in a joint statement: "We are pleased to see NetTest becoming an important cornerstone for growth and geographical expansion of a major recognised telecommunication T and M company".

"The acquisition by Anritsu gives NetTest a financially strong complimentary owner which can accelerate the worldwide distribution of our products and expand product developments that NetTest has undertaken in the last years".

Christian Frigast, Managing Partner at Axcel comments: "Having completed successfully the restructuring and repositioning of NetTest and accelerated growth through significant product development, we believe it is now time for a major industrial owner with strong technology competencies and a global presence to further develop NetTest".

"We see Anritsu as such an ideal owner".

"We strongly believe that the employees and customers of NetTest will appreciate the merits of the combined company".

The transaction, which has been approved by both companies' Boards of Directors, is expected to close before the end of August.

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