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February 10, 2010

JDSU to acquire Agilent network business for $165m

Includes LTE, network verification and deployment products

By CBR Staff Writer

JDSU has agreed to acquire the network solutions communications test business of Agilent, including the unit’s long term evolution (LTE), or 4G, network verification and deployment products, for $165 million in cash.

JDSU said that the acquisition expands its communications test position, including the market for LTE/4G offerings required by wireless service providers and network equipment manufacturers upgrading to this technology.

Agilent said that it is selling its network solutions business as it believes the business and its customers will be better served by a company that is focused exclusively on communications network test.

The Agilent unit being acquired had annual revenue of $162m in 2009, from global sales of service assurance monitoring systems, drive test and protocol test instruments used by service providers and equipment manufacturers. The has approximately 700 employees with business operations located in Colorado, the UK, Singapore and Beijing.

The Agilent network solutions portfolio includes, service assurance offerings; network protocol analysers instruments used both for lab and field testing by network equipment manufacturers and wireless service providers; and wireless drive test network optimisation platform.

JDSU expects the acquisition to be accretive to non-GAAP earnings per share on a quarterly basis and for the full fiscal year starting in fiscal 2011.

Tom Waechter, president and chief executive officer of JDSU, said: “This acquisition establishes JDSU as a market leader in wireless test instruments and systems and enables us to provide customers with new innovative LTE solutions as they deploy this next-generation mobile data technology. JDSU gains market-leading technology and a talented employee team that will fit well with JDSU’s customer-centric culture.”

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The transaction, which is subject to receipt of customary regulatory approvals, is expected to be completed in the June calendar quarter 2010.

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