Thursday, July 1, 2004
Test equipment maker Tektronix Inc. has acquired communications software developer Inet Technologies for about $325 million in a move Tektronix said will speed efforts to deliver test gear for next-generation mobile and IP-based networks.
Tektronix (Beaverton, Oregon) said the deal is expected by the end of September. Inet (Richardson, Texas) will become part of Tektronix's communications and video business group.
Inet employs about 500 workers worldwide, and had 2003 sales of of $104 million. Textronix said that when combined with its own mobile protocol test business, the group will gain sales from the network monitoring and protocol test markets of just over $200 million.
Tektronix CEO Rick Wills said the merger will build on the company's protocol business by "adding Inet's leadership in its target markets — especially mobile data — to Tektronix' capabilities and relationships with mobile equipment manufacturers."
He added that synergies between the companies would allow Textronix to "accelerate product development."
Inet CEO Elie Akilian said the deal provides the company with "the scale needed to successfully capitalize on the significant growth opportunities in today's mobile data and VoIP markets."
By: DocMemory
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