|
Anritsu Corporation to Acquire NetTest A/S
Anritsu Corporation (TSE:6754 / "Anritsu"), the
largest Japanese provider of communication solutions, today announced that
they have signed a definitive agreement with Axcel and the management of
NetTest to acquire NetTest, a leading global provider of network monitoring
systems and field use communications test products. Anritsu will acquire
100% of the outstanding shares of NetTest A/S.
NetTest is headquartered in Copenhagen, Denmark and has 480
employees. Other primary locations for R&D facilities are in the U.S.,
France and Italy. For the year ended December 31, 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 optimize 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 organization 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."
Mr. Toda also emphasized that "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 telecom 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 recognized telecommunication T&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 to 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.
Konomi, Inc. has been advisor to Anritsu Corporation and
Morgan Stanley & Co. Limited acted as financial advisor to Axcel and the
management of NetTest.
For additional information please contact:
Christian Frigast, Axcel - telephone +45 33 36 69 99
Tetsuo Kawabe - Public & Investor Relations Anritsu - telephone +81 46 296
6507
Allan J. Vestergaard, CEO and President NetTest - telephone +45 72 11 22 01
Kaj Juul-Pedersen, Chairman of the Board NetTest - telephone +45 27 20 17 17
About Anritsu
Anritsu Corporation (www.anritsu.com)
is a global provider of innovative communications solutions for more than
110 years. With offices throughout the world, Anritsu provides solutions for
existing and next-generation wired and wireless communication systems. Its
measurement solutions include wireless, optical, microwave/RF, and digital
instruments that can be used during R&D, manufacturing, installation, and
maintenance. Anritsu also provides precision microwave/RF components,
optical devices, and high-speed devices for design into communication
products and systems. Anritsu has 3600 employees globally with sales for the
year ended March 31, 2005 totalling 84 Billion yen (US $790 million).
About NetTest
NetTest (www.nettest.com) is a leading
specialist in the field of operational support solutions. These solutions
provide unique insights into the function and performance of
telecommunication networks and services so that owners, operators, and
vendors can make informed business decisions that drive their profitability.
Headquartered in Copenhagen, Denmark, and with offices in the US, France,
Italy, Germany, the UK, Spain, Singapore and China, and represented by
distributors all over the world.
About Axcel
Axcel (www.axcel.dk) is a leading
investment company based in Denmark with focus on midsized companies.
Following the sale of NetTest, Axcel has investments in 14 companies with
combined sales of approx. EUR 3 billion. Axcel's shareholders include major
financial institutions, industrial companies and private families. Axcel has
a total committed capital of more than EUR 800 million under management.
Axcel has in June 2005 established a new fund, Axcel III. |
