Anite plc (“Anite” or the “Group”), the leading provider of software and hardware solutions to the international wireless market, today announces the acquisition of Xceed Technologies Inc. (“Xceed”), a US based wireless network data analytics software company. Xceed provides a leading range of wireless network optimisation and performance management products broadening Anite’s product portfolio in the analytics and post-processing market, an area of significant operator focus and growth.
Acquisition highlights – the transaction
– Consideration of $30m paid in cash upon closing on a cash free/debt free basis from Anite’s existing cash resources
– Up to $5m additional deferred cash consideration dependent on the achievement of performance targets in the years ending 30 April 2015 and 2016
– Xceed reported $11.8m revenue and $1.6m EBITDA in its financial year ended 31 December 2013
– The acquisition is expected to enhance Anite’s adjusted earnings per share in the current financial year before transaction and integration costs
– Xceed will be integrated within Anite’s Network Testing business where its products complement Anite’s existing product portfolio.
Acquisition highlights – the business
– Xceed, based in the US just outside Washington D.C., designs and builds software solutions which enable operators to better analyse the performance of networks to improve voice and data service quality and optimise capacity
– Xceed’s products take data feeds on network performance from various sources, including drive test tools as provided by Anite, and analyses them to present operators with useful intelligence on ways to optimise their network performance
– Xceed’s products are:
− WindCatcher, a desktop application used throughout the network lifecycle to design, deploy, monitor, optimise and benchmark network performance based on drive test and network data
− Xynergy, a customer-configurable, enterprise-level analytics platform that automates key tasks in the network management life cycle, such as network acceptance, benchmarking, customer experience management and network performance for multi-vendor and multi-technology networks
– Xceed products have very strong positions with tier one US operators which account for around 65% of Xceed’s current revenues
– As part of Anite, Xceed’s solutions will be sold through Anite Network Testing’s extensive global sales and distributor network.
Commenting on the acquisition, Christopher Humphrey, Anite’s Chief Executive said:
“This acquisition transforms our Network Testing product portfolio in the increasingly important and growing data analytics market, which enables operators to identify and manage network performance issues.
“Anite’s established market and technology leadership, and its substantial global sales and support footprint, combined with Xceed’s acknowledged expertise and market leading software solutions, create a dedicated supplier with a more complete product offering.
“Xceed is an excellent addition to Anite’s Network Testing business and the acquisition is expected to be enhancing to adjusted earnings. Anite retains significant financial resources to continue to invest in further growth opportunities.”
Commenting on the acquisition, Bary Azmi, Xceed’s Chief Executive said:
“Anite’s Network Testing business is a natural fit for Xceed and we are delighted to have completed the transaction. Anite’s established global reach and technology leadership, combined with Xceed’s advanced software, will enable us to build on our success in North America and start to globalise our business