Viavi Solutions Buys Cobham AvComm for $455M
Friday, February 02, 2018 | Comments

Viavi Solutions signed an agreement to acquire the test and measurement business of Cobham for $455 million cash consideration, subject to customary closing adjustments. The transaction significantly strengthens Viavi's competitive position in 5G deployment and diversifies the company into military, public-safety and avionics test markets, a statement said.

The acquisition has been approved by the board of directors of each company and is expected to close during the second half of Viavi's fiscal year 2018.

Cobham AvComm, formerly Aeroflex, and Wireless Test and Measurement provide test products from the radio access network through to the network core. It has served military, public-safety and aviation markets for decades with its LMR and avionics test solutions. The business generated more than $200 million of revenues in calendar year 2017.

"Cobham AvComm and Wireless Test and Measurement are recognized leaders with a world-class team that has a long track record of successfully bringing innovative solutions to market," said Oleg Khaykin, president and CEO of Viavi. “Together, we expect new opportunities to grow through channel expansion and technology sharing as we address rapidly emerging opportunities in 5G, software-defined and virtualized test."

Upon closing, the transaction is expected to be meaningfully accretive to Viavi free cash flow and non-GAAP earnings per share and monetize net operating losses.

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