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Spirent Communications buys wireless test solutions provider octoScope for US$73mln

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Spirent Communications PLC (LON:SPT) announced it has acquired octoScope, Inc from founder Fanny Mlinarsky and other investors for up to US$73mln (£52mln).

The provider of test, assurance, and analytics solutions will pay an initial US$55mln (£39mln), funded from existing cash resources, with extra consideration capped at US$18mln (£13mln) based on annual revenue growth targets for 2021 and 2022 and retention of key staff.

READ: Spirent Communications expects 2021 to be second-half weighted due to COVID-19

Founded in 2006 in the US, octoScope uses patented technology to provide automated Wi-Fi and 5G testing in emulated real-world environments, including the latest Wi-Fi 6 and 6E technologies.

Its products are used by a blue-chip roster of communication service providers, chipset, device, network infrastructure and Wi-Fi equipment vendors, including Google, Facebook, Verizon, Qualcomm, Nokia, Amazon, Philips and Sony.

As of December 2019, it had gross assets of US$11mln, having delivered revenue of US$17mln and profit before tax of US$4mln during the year.

Revenue came in at around US$20mln in 2020.

Spirent said this acquisition is complementary and in line with its targeted investment plans announced in October.

It added that it will become “the Wi-Fi test leader” while extending capabilities for 5G solutions.

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