LONDON (Thomson Financial) - NetScout Systems Inc said it has entered into
an agreement to acquire Network General Corporation, a network software
manufacturer, for approximately 205 mln usd.
The networking performance technology provider said the deal combines cash,
stock and debt, with completion expected by early November.
NetScout said the transaction is expected to be accretive on a GAAP basis by
the end of 2009, by which time the newly combined company is expected to see
revenue rates approximately double.
Anil Singhal, president and CEO of NetScout Systems, said: "This combination
positions us to substantially expand our ability to help the largest
organizations worldwide to assure that network-enabled applications and services
can reliably be delivered to diverse and geographically extensive operations."
In a separate statement, NetScout raised its second quarter guidance as it
expects record revenue based on strong order levels.
Total expected revenue is now expected to come in at 29-30 mln usd, up from
the previously issued guidance of 28-29 mln, while net income per diluted share
is forecast at 0.09-0.10 usd, up from 0.08-0.09.
newsdesk@thomson.com
ajb/jlc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|