10th Jul 2006 08:30
Spirent Communications PLC10 July 2006 SPIRENT COMMUNICATIONS PLC ACQUISITION OF SCIENTIFIC SOFTWARE ENGINEERING, INC. London, UK - 10 July 2006: Spirent Communications plc (LSE: SPT; NYSE: SPM), aleading communications technology company, today announces that it has acquiredScientific Software Engineering, Inc. ("SSE"), the US based developer of thefast growing Landslide product, a leading software based system for testing theperformance and functionality of 2.5 and 3G wireless network infrastructure. Spirent is paying an initial consideration of $10.0 million (£5.4 million),payable in cash on completion with up to a further $6.0 million (£3.3 million)payable depending on the satisfaction of certain technical milestones and theretention of key employees. SSE, based in Dallas, Texas and employing 24 people, will be incorporated withinSpirent's Performance Analysis division. Spirent has been re-selling theLandslide product since November 2003 and customers include leading globalnetwork equipment manufacturers and wireless operators. The acquisition will allow Spirent to integrate the business and the technologyto deliver enhanced applications for the wireless infrastructure, IMS andfixed-mobile convergence test markets, which have been identified as key growthareas. Landslide revenues grew strongly in the first half of the year. Anders Gustafsson, Chief Executive, commented: "The acquisition is in line with our strategy to expand our communicationsbusiness, drive profitable growth and deliver shareholder value. We believe thatthe Landslide product is a market-leading solution for wireless networkinfrastructure testing and will also enhance our IMS portfolio." - ends - Enquiries Spirent Communications plc +44 (0)1293 767676Anders Gustafsson, Cheif Executive Eric Hutchinson, Chief Financial Officer SmithfieldReg Hoare/Katie Hunt +44 (0)20 7360 4900 Photography is available from UPPA (Universal Pictorial Press & Agency) - www.uppa.co.uk or tel: 020 7421 6000 About Spirent Communications plc Spirent Communications plc is a leading communications technology companyfocused on delivering innovative systems and services to meet the needs ofcustomers worldwide. We are a global provider of performance analysis andservice assurance solutions that enable the development and deployment ofnext-generation networking technologies such as broadband services, Internettelephony, 3G wireless and web applications and security testing. The Systemsgroup develops power control systems for specialist electrical vehicles in themobility and industrial markets. Further information about SpirentCommunications plc can be found at www.spirent.com. Spirent Communications plc Ordinary shares are traded on the London StockExchange (ticker: SPT) and on the New York Stock Exchange (ticker: SPM; CUSIPnumber: 84856M209) in the form of American Depositary Shares ("ADS"),represented by American Depositary Receipts, with one ADS representing fourOrdinary shares. Spirent and the Spirent logo are trademarks or registered trademarks of SpirentCommunications plc. All other trademarks or registered trademarks mentionedherein are held by their respective companies. All rights reserved. This press release may contain forward-looking statements that are based oncurrent expectations or beliefs, as well as assumptions about future events. Bytheir nature, forward-looking statements are inherently predictive, speculativeand involve risk and uncertainty because they relate to events and depend oncircumstances that will occur in the future. You should not place undue relianceon these forward-looking statements, which are not a guarantee of futureperformance and are subject to factors that could cause our actual results todiffer materially from those expressed or implied by these statements. Theserisks include the risks described from time to time in Spirent Communicationsplc's Securities and Exchange Commission periodic reports and filings. TheCompany undertakes no obligation to update any forward-looking statementscontained in this press release, whether as a result of new information, futureevents or otherwise. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Spirent