804 - 19 June 2002
SPIRENT PLC AGREES TO ACQUIRE
ANRITSU'S REMOTE SPECIAL SERVICES TEST PRODUCT LINE
Spirent plc (LSE: SPT; NYSE: SPM), a leading international network technology
company, announced today that it has agreed to acquire certain assets of the
remote special services test product line of Anritsu Company US for a cash
consideration of $26 million (approximately £17.4 million). Following
completion of the acquisition, the remote special services test product line
will be integrated into the Service Assurance division of Spirent's
Communications group. The acquisition is expected to be immediately earnings
enhancing for Spirent.
The Anritsu remote special services test product line includes systems to
access, test and monitor the performance of networks for many of the world's
leading telecommunications service providers. Products being acquired by
Spirent include Anritsu's remote test probes and access units for HiCap (DS1
and DS3), Digital Data and voice frequency circuits, referred to as `special
services'. Anritsu's remote special services test systems currently monitor
some two million circuits for some 20 service providers located in eight
countries. For the year ended 31 March 2002, the product line being acquired
generated unaudited revenues of $21.5 million (approximately £14.4 million).
Nicholas Brookes, Chief Executive of Spirent, commented:
'We are firmly focused on growing the Spirent Communications service assurance
business. This acquisition further strengthens our award-winning broadband
product portfolio and opens opportunities to expand our customer base. Three of
the largest service providers in North America, Verizon, SBC and Qwest, have
made significant commitments to Spirent's service assurance solutions. This
acquisition will bring us additional installed base in these customers as well
as BellSouth, Korea Telecom and other important customers on which we can
build.'
Jim Schleckser, President of the Spirent Communications Service Assurance -
Broadband unit, commented:
'We already have a strong position in the special services remote testing
market. Special services, or private lines, are currently the primary broadband
access technology for business customers. We are committed to the market long
term and dedicated to helping our customers build the bridge from legacy
networks and operations support systems to next-generation technologies. We
look forward to fully supporting Anritsu's remote broadband test business
customers and their installed base.'
The acquisition is subject to certain terms and conditions and is expected to
complete next month. The cash consideration for the acquisition will be
financed out of Spirent's existing cash resources.
- ends -
Enquiries
Nicholas Brookes, Chief Executive Spirent plc +44 (0)1293 767676
Eric Hutchinson, Finance Director
Jim Schleckser, President, Spirent Communications +1 301 590 3600
Service Assurance - Broadband
Investor Relations
Catherine Nash Spirent plc +44 (0)1293 767676
Media
Jon Coles/Rupert Young Brunswick (London) +44 (0)20 7404 5959
Lauren Teggelaar Brunswick (New York) +1 212 333 3810
About Spirent plc
Spirent plc is an international network technology company providing
state-of-the-art solutions with a focus on high growth activities. Further
information about Spirent plc can be found at www.spirent.com
Spirent plc is listed on the London Stock Exchange (ticker: SPT) and on the New
York Stock Exchange (ticker: SPM; CUSIP number: 84856M209) with one American
Depositary Receipt representing four Ordinary shares.
About Spirent Communications
Spirent Communications is a worldwide provider of integrated performance
analysis and service assurance systems for next-generation network
technologies. Spirent's solutions accelerate the profitable development and
deployment of network equipment and services by emulating real-world conditions
in the lab and assuring end-to-end performance of large-scale networks. Further
information about Spirent Communications can be found at www.spirentcom.com
Spirent and the Spirent logo are trademarks of Spirent plc. All other
trademarks or registered trademarks are held by their respective companies. All
rights reserved.
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