Keysight Bids £1.2 Billion for Spirent, Overtaking Viavi (1)

Keysight Technologies has made an offer for struggling telecom network testing company Spirent Communications Plc, exceeding an earlier bid for the UK company from Viavi Solutions Inc.

Keysight has agreed to buy Spirent for 201.5 pence per share, a price which includes a 2.5 pence special dividend, and values Spirent’s equity at £1.16 billion ($1.5 billion), the companies said in a statement on Thursday. The Spirent board has withdrawn its recommendation of the earlier Viavi bid, which valued the company at £1 billion.

Spirent — which provides automated testing for networks and is used by companies that ...