Keysight Technologies, Inc. announced the successful completion of its acquisition of Spirent Communications plc.
Spirent is a global leader in automated test and assurance solutions for networks, cybersecurity, and positioning. Its innovative offerings help clients overcome testing, assurance, and automation challenges in advanced technologies such as 5G, SD-WAN, cloud computing, and autonomous vehicles.
“Today marks a milestone for Keysight as we officially welcome Spirent into our company. By combining Keysight’s leading design, emulation, and test expertise with Spirent’s strengths in satellite emulation, positioning, and network automation, we are expanding the breadth of our portfolio to better serve our customers. This acquisition accelerates our strategy and positions us to deliver even greater value in a rapidly evolving technology landscape,” said Satish Dhanasekaran, Keysight’s President and Chief Executive Officer.
The total transaction was valued at approximately £1.16 billion (about US $1.46 billion) on a fully diluted basis. Spirent’s shareholders will receive 202.5 pence per share in total, comprising 199 pence in cash plus a previously issued special dividend of 3.5 pence per share.
This acquisition enhances Keysight’s capabilities and broadens its portfolio to better serve customers in a rapidly evolving technology landscape through combined expertise in design, emulation, network automation, and positioning technologies. Spirent’s shares have been delisted from the London Stock Exchange and will now be reported within Keysight’s Communications Solutions Group.
Regulatory Requirements Successfully Fulfilled
The completion of this transaction follows the satisfaction of all regulatory conditions outlined in prior announcements, including clearances from the U.S. Department of Justice (DOJ), the UK Competition and Markets Authority, the French Ministry for the Economy, the German Federal Ministry for Economic Affairs and Climate Action, and the State Administration for Market Regulation (SAMR) in China.
In accordance with the consent decree entered into with the DOJ and undertakings made to SAMR, Keysight and Spirent have agreed to divest Spirent’s high-speed Ethernet, network security, and channel emulation business lines. This divestiture is expected to be completed on October 16, 2025.
