Keysight Technologies (KEYS) confirmed that Keysight and Spirent Communications have entered into a consent decree with the United States Department of Justice in connection with its review of Keysight's proposed acquisition of Spirent, pursuant to which Keysight and Spirent have agreed to divest Spirent's high-speed ethernet, network security, and channel emulation business lines to VIAVI (VIAV) or another acquirer approved by DOJ.
DOJ has filed in court a proposed settlement and an Asset Preservation and Hold Separate Stipulation and Order. Keysight and Spirent have entered into a short side letter in respect to the settlement process with DOJ.
Keysight continues to expect the sale of the divestment business to complete shortly after the acquisition becoming effective. In connection with the consent decree, Keysight and VIAVI have entered into an amendment agreement in respect of the sale of the divestment business, pursuant to which Spirent's channel emulation business line has been added to the scope of the divestiture.
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