CALABASAS, Calif. (AP) — Network hardware maker Ixia is buying security testing provider BreakingPoint Systems Inc. for $160 million in cash.
BreakingPoint’s products are used by a variety of businesses and government agencies in part to test their wired and wireless infrastructures and protect against cyber-attacks.
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The privately held company is based in Austin, Texas.
The acquisition is expected to add to Ixia’s adjusted earnings during the first full quarter after the deal is complete.
Ixia also raised the low end of its second-quarter revenue outlook. The company now foresees revenue in a range of $87 million to $89 million, up from $86 million to $89 million.
Analysts polled by FactSet predict revenue of $88.5 million.
The buyout is expected to close in the third quarter.
Shares of Ixia, based in Calabasas, Calif., rose 13 cents to $12.15 in afternoon trading on Monday. They are approaching the upper end of their 52-week range of $14.88 set in mid-February. They traded as low as $7.08 in September.
