Ixia Acquired By Keysight For $1.6 Billion

Calabasas-based network testing software and hardware developer Ixia has been acquired by Keysight Technologies, in a deal worth $1.6 billion in cash, the two announced this morning. Keysight and Ixia said that Keysight will pay $19.65 per share in cash for Ixia, a premium of approximately 45 percent to Ixia's stock price on December 1st, when Ixia said it was considering "strategic alternatives". Ixia was advised by Deutsche Bank and Bryan Cave LLP in the deal; Keysight was advised by Goldman, Sachs & Co., and Clearly Gottlieb Steen & Hamilton LLP. Ixia was founded in 1997 by Errol Ginsberg, who founded the company after serving as VP of Engineering at Tekelec. Ixia went public in October of 2000. Ginsberg had served as CEO of Ixia until 2007, and has since been Chairman of the Board.