SAN JOSE, Calif., March 16, 2018 /PRNewswire/ -- (NASDAQ:
VIAV) Viavi Solutions Inc. ("VIAVI") today announced that it
has completed the acquisition of the AvComm and Wireless Test and
Measurement businesses of Cobham plc (LSE: COB) ("Cobham
T&M").
VIAVI acquired Cobham T&M for all-cash consideration of
$455 million, subject to certain
customary closing adjustments. The acquisition is expected to
be accretive to VIAVI's non-GAAP earnings per share beginning in
fiscal fourth quarter 2018, ending on June
30, 2018.
About Viavi Solutions
VIAVI (NASDAQ: VIAV) is a global
provider of network test, monitoring and assurance solutions to
communications service providers, enterprises and their ecosystems,
supported by a worldwide channel community including VIAVI Velocity
Solution Partners. We deliver end-to-end visibility across
physical, virtual and hybrid networks, enabling customers to
optimize connectivity, quality of experience and profitability.
VIAVI is also a leader in high performance thin film optical
coatings, providing light management solutions to
anti-counterfeiting, consumer electronics, automotive, defense and
instrumentation markets. Learn more about VIAVI at
www.viavisolutions.com. Follow us on VIAVI Perspectives, LinkedIn,
Twitter, YouTube and Facebook.
Safe Harbor
This press release contains
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and is subject to the safe harbors created
therein. The forward-looking statements include, but are not
limited to, information regarding the ability of VIAVI and the
seller to complete the acquisition, including the satisfaction of
the conditions to the consummation of the acquisition, and the
expected estimated and anticipated impact of the transaction of
VIAVI's future results of operations. These forward-looking
statements involve risks and uncertainties that could cause VIAVI's
results to differ materially from management's current
expectations. Such risks and uncertainties include, but are not
limited to, unforeseen changes in the strength of customers'
businesses; unforeseen changes in the demand for current and new
products, technologies, and services; customer purchasing decisions
and timing; unforeseen changes in future revenues, earnings and
profitability of VIAVI or Cobham T&M; the risk that VIAVI is
not able to realize the savings or benefits expected from
integration of Cobham T&M; the risk that the required
regulatory approvals for the proposed acquisition are not obtained,
are delayed or are subject to conditions that are not anticipated;
and those risks and uncertainties discussed in VIAVI's Annual
Report on Form 10-K filed with the Securities and Exchange
Commission on August 29, 2017 and
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission on February 7,
2018. The forward-looking statements included in this
release are valid only as of today's date except where otherwise
noted. Viavi Solutions Inc. undertakes no obligation to update
these statements.
Investors Contact: Bill Ong, 408-404-4512;
bill.ong@viavisolutions.com
Press
Contact:
Amit Malhotra, 202-341-8624;
amit.malhotra@viavisolutions.com
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SOURCE VIAVI Financials