Viavi Solutions Inc. (VIAV), Friday announced an agreement to acquire Virginia-based Inertial Labs, Inc. for an initial consideration of $150 million at closing, and upto $175 million of contingent consideration over four years.
The acquisition is expected to expand Viavi's presence in domestic and international aerospace, and defense segments, and enhance its entry into autonomous air, land, and sea systems in the military and industrial end markets.
The company expects the transaction to increase its Network and Service Enablement annual revenue by about $50 million in calendar year 2025. It also estimates the acquisition to be accretive to EPS within one year.
The transaction, set to complete in the first quarter of 2025, will be financed through cash on hand.
Currently, Viavi's stock is trading at $11.15, up 0.41 percent on the Nasdaq.
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