CALABASAS, Calif.--(BUSINESS WIRE)--Ixia (NASDAQ:XXIA) announced that at its special meeting of shareholders held on April 12, 2017, Ixia’s shareholders voted to approve the acquisition of Ixia by Keysight Technologies, Inc. ("Keysight").
As previously announced on January 30, 2017, Ixia and Keysight entered into a definitive agreement pursuant to which Keysight will acquire Ixia by way of a merger of a wholly owned subsidiary of Keysight with and into Ixia. At the special meeting, approximately 82.8% of Ixia's outstanding shares voted in favor of the agreement and the principal terms of the merger.
Under the terms of the agreement, at the effective time of the merger, Ixia shareholders will have the right to receive $19.65 per share in cash. The closing of the merger, which is expected to occur as early as the second half of April 2017, remains subject to the satisfaction of certain customary closing conditions. The Ixia shareholder approval follows the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as well as clearance under the antitrust laws of Germany and Israel.
Safe Harbor under the Private Securities Litigation Reform Act of 1995
Certain statements made in this press release may be deemed to be forward-looking statements including, without limitation, statements regarding the consummation of the transaction with Keysight, including the anticipated timing of the closing. In some cases, such forward-looking statements can be identified by words such as "may," "will," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "project," "predict," "potential," or the like. These statements reflect our current views with respect to future events and are based on assumptions and are subject to risks and uncertainties. These risks and uncertainties, as well as other factors, may cause our future results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. Factors that could cause the actual results to differ materially from those expressed or implied in such forward-looking statements include, among others: the risk that the proposed transaction may not be completed in a timely manner or at all; the risk that any conditions to the completion of the transaction may not be satisfied, including the risk that a remaining regulatory approval required for the consummation of the transaction may not be obtained on the terms expected or on the anticipated schedule; the occurrence of any event, change, or other circumstances that could give rise to the termination of the acquisition agreement; and legislative, regulatory, and economic developments. The factors that may cause future results to differ materially from our current expectations also include, without limitation, the risks identified in our Annual Report on Form 10-K for the year ended December 31, 2016 and in our other filings with the Securities and Exchange Commission. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Ixia (NASDAQ:XXIA) provides testing, visibility, and security solutions, strengthening applications across physical and virtual networks for enterprises, service providers, and network equipment manufactures. Ixia offers companies trusted environments in which to develop, deploy, and operate. Customers worldwide rely on Ixia to verify their designs, optimize their performance, and ensure protection of their networks to make their applications stronger. Learn more at www.ixiacom.com.
Ixia and the Ixia logo are trademarks or registered trademarks of Ixia in the United States and other jurisdictions. All other trademarks used herein are the property of their respective owners.