Tektronix to Acquire Minacom
Combined Offering Provides Communications Carriers with the Industry’s Most Comprehensive Test and Monitoring Solution for Managing Next Generation Networks and Value-Added Services
BEAVERTON, Ore., November 06, 2006 – Tektronix, Inc. (NYSE: TEK), a leading worldwide provider of test, measurement and monitoring solutions today announced that it has signed a definitive agreement to acquire Minacom, a leading provider of active probe test solutions used by telecommunications carriers, cable multi-system operators (MSOs), wireless and VoIP providers worldwide. Minacom is based in Montreal, Canada and has an installed base in 30 countries worldwide. The acquisition will expand Tektronix’ leadership and addressable market in Next Generation Network (NGN) Management Solutions.
Complementing Tektronix’ market-leading network monitoring systems, Minacom’s active test solutions for VoIP, voice, video, Internet, Fax, and Fax-over-IP provide active troubleshooting, provisioning, and automated service quality monitoring that accurately reflects the real subscriber-experience. The combined products will provide an integrated end-to-end NGN network and service quality test platform for Tektronix customers worldwide, enabling them to provide the highest quality of service to their subscribers and to rapidly identify, localize and quantify service and network issues at all points from the core to the edge of the network.
“We are committed to providing innovative NGN solutions. This acquisition will enable Tektronix to offer both active and passive probing capabilities for modern and legacy networks,” said Rich McBee, Senior Vice President and General Manager, Tektronix Communications Business. “The integration of these products into one solution will accelerate delivery of our product roadmaps in key areas such as IP voice, video and data services and for access and edge network service management. Additionally, Minacom’s respected leadership position with cable MSO’s for active VoIP testing will provide direct access to a new market segment for Tektronix’ monitoring business.”
“I am very excited about the products and technologies this combination of companies will bring to our customers” said Michel Nadeau, President and Founder of Minacom. “Our customers want to work with fewer vendors with broader solutions that cover key aspects of service delivery. We strongly believe in the value of combining active and passive test capabilities and know that together, we will deliver the best solution in the industry. Tektronix’ global leadership with NGN tier one networks combined with its global channels and support infrastructure will give our active test products greatly enhanced customer access, reach and support, backed by Tektronix’ well-established reputation for leadership in testing.”
Tektronix will acquire Minacom in an asset purchase for approximately US $27.0M and expects the transaction to close within 30 days. The impact of the acquisition is expected to be immaterial to Tektronix’ financial results for the fiscal year. Minacom’s 35 employees will become part of Tektronix and the business will continue to be located in Montreal. The new group will become a center of excellence for IP active test within Tektronix.
Tektronix is a leading supplier of test, measurement, and monitoring products, solutions and services for the communications, computer, and semiconductor industries – as well as military/aerospace, consumer electronics, education and a broad range of other industries worldwide. With 60 years of experience, Tektronix enables its customers to design, build, deploy, and manage next-generation global communications networks, advanced and pervasive technologies. Headquartered in Beaverton, Oregon, Tektronix has operations in 19 countries worldwide. Tektronix’ Web address is www.tektronix.com.
Statements and information in this press release that relate to future events or results (including the Company’s statements and expectations regarding markets, market position and market growth opportunities, strategic direction and the introduction of new products) are based on the Company’s current expectations. They constitute forward-looking statements subject to a number of risk factors, which could cause actual results to differ materially from those currently expected or desired. Those factors include: worldwide geopolitical and economic conditions; current and future business conditions in the electronics, communications, computer and advanced technologies industries; changes in order rates and customer cancellations, including changes in seasonal buying habits and timing of large orders; competitive factors, including pricing pressures, loss of key employees, technological developments and new products offered by competitors; acquisition synergies assumption realization and integration plan execution; changes in product and sales mix, and the related effects on gross margins; customer acceptance of large orders with delayed acceptance criteria; the Company’s ability to deliver a timely flow of competitive new products, and market acceptance of these products; the availability of parts and supplies from third-party suppliers on a timely basis and at reasonable prices; risks associated with compliance with the “Restriction of Hazardous Substances” worldwide regulatory provisions, including the associated conversion of current and future product designs and manufacturing processes to procure or produce lead-free products, and with export regulations; inventory risks due to changes in market demand or the Company’s business strategies; changes in effective tax rates; currency fluctuations; and the ability to develop effective sales channels. Further information on factors that could cause actual results to differ from those anticipated is included in filings made by the Company from time-to-time with the Securities and Exchange Commission, including but not limited to annual reports on Form 10-K and the quarterly reports on Form 10-Q.
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- Alisha Goff
- Manager, Corporate Communications
- Tektronix, Inc.
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