Ixia To Acquire BreakingPoint Systems for $160 Million in Cash Deal
BreakingPoint Systems, a provider of technology that helps test IT infrastructure to massive scales and simulate cyberwar conditions is set to be acquired by Ixia (NASDAQ:XXIA), a provider of converged IP and wireless network test and visibility solutions, for approximately $160 million in cash.
The acquisition of BreakingPoint enables Calabasas, California-based Ixia to provide an end-to-end solution that monitors, tests, and optimizes converged networks.
BreakingPoint’s solutions provide insight into the resiliency of an organization’s IT infrastructure under various conditions and malicious attacks and help battle-test wired and wireless infrastructures, deploy compact cyber ranges, and optimize network and data center systems.
“As a leader in cyber security research, BreakingPoint has built a library of more than 34,000 attacks, exploits, malware, and more,” said Dennis Cox, co-founder and Chief Technology Officer of BreakingPoint in a statement. “Joining forces with Ixia creates a powerful platform in security and application testing – one with an extensive global sales reach into enterprises, service providers, and government agencies.”
The transaction expected to close in the third quarter of 2012 and is subject to adjustment based on BreakingPoint’s net working capital and cash at closing.
BreakingPoint experienced revenue growth over 40 percent in 2011, totaling $33.5 million for the year, with a gross margin of 87 percent. Ixia expects BreakingPoint’s revenue to again grow by more than 40 percent in 2012.