Ixia begins $9.25-per-share tender offer for Catapult Communications

By Lisa Kerner

Charlotte, N.C., May 26 - Ixia, through Josie Acquisition Co., began its previously announced $9.25-per-share cash tender offer for Catapult Communications Corp.

The offer and withdrawal rights will end at midnight ET on June 22 unless extended, according to Ixia's tender offer statement filed with the Securities and Exchange Commission.

As previously reported in Prospect News, Ixia agreed to acquire Catapult in a transaction valued at approximately $105 million, or $63 million net of Catapult's cash and investments.

Catapult's board of directors unanimously recommended in favor of the deal, which is expected to close in the third quarter.

Based in Calabasas, Calif., Ixia provides test systems for IP-based infrastructure and services.

Catapult, located in Mountain View, Calif., develops and supports software-based test systems for the telecommunications industry.

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