TMCnet News
Anite Agrees USD35 Million Acquisition Of US's Xceed Technologies(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Anite PLC Friday said it has agreed the acquisition of US wireless network data analytics software company Xceed Technologies Inc for up to USD35 million. Wireless hardware and software company Anite said it would pay USD30 million in cash upon completion of the deal, with a further USD5 million in deferred cash dependent on the achievement of performance targets by Xceed in the next two financial years. Xceed posted earnings before income, taxation, depreciation and amortisation in the year to December 31, 2013 of USD1.6 million on revenue of USD11.8 million, Anite said. The company will be integrated into Anite's Network Testing business. "Xceed is an excellent addition to Anite's Network Testing business and the acquisition is expected to be enhancing to adjusted earnings. Anite retains significant financial resources to continue to invest in further growth opportunities," said Anite Chief Executive Christopher Humphrey. Copyright 2014 Alliance News Limited. All Rights Reserved. |