NetScout Systems Closes Acquisition Of Danaher's Communications Business

(RTTNews) - NetScout Systems Inc. (NTCT) announced that it has completed the acquisition of Danaher Corp.'s (DHR) Communications Business.

The transaction was valued at $2.3 billion, based on the issuance of 62.5 million shares of NetScout common stock, which closed yesterday at $36.89 per share, to Danaher's shareholders.

As previously disclosed, upon the completion of the transaction, James Lico, executive vice president with responsibility for Danaher's Test & Measurement segment and Gilbarco Veeder-Root business, has been appointed to NetScout's Board of Directors. With the appointment of Lico, NetScout's Board of Directors has been expanded to eight members.

NetScout also announced that it has secured a new five-year, $800 million senior secured revolving credit facility that replaces its previous revolving credit facility of $250 million. The new credit facility can be used to support general working capital requirements as well as to help finance the repurchase of NetScout's common stock under its recently approved 20 million share common stock repurchase plan.