Compiled by Ryan Cliche
The OMNIScanner and other Microtest products will remain a key part of Fluke Networks' product strategy.
Fluke Networks Inc. (www.fluke networks.com), part of the Danaher family of companies, has signed a definitive agreement to acquire Microtest Inc. and merge it into the Fluke Networks subsidiary. Under the terms of the agreement, Fluke Networks will acquire Microtest in an all-cash transaction valued at approximately $74 million, or approximately $8.15 per share.
Both companies want the industry to know that this acquisition does not mean that Microtest is being shut down. The OMNIScanner and other Microtest products will remain a key part of Fluke Networks' product strategy. "Of all the options we considered, selling to Fluke Networks made the most sense for our employees, shareholders, and customers," said Vincent C. Hren, president and CEO of Microtest. "We respect Fluke Networks' commitment to win in its markets, and find their pursuit of excellence closely models our own. This acquisition will only positively impact the marketplace." Fluke will continue to support Microtest's products and invest in copper certification measurement technology for the future.
Fluke says it values Microtest's technical innovation and contributions to the cable and network testing world, and believes these qualities can complement Fluke's mission. "The complementary combination of Microtest and Fluke Networks will strengthen our ability to deliver timely solutions, compete more effectively in the marketplace, and better respond to the rapidly changing needs of cabling and networking professionals around the world," says Chris Odell, president of Fluke Networks. Microtest has concentrated on the structured cabling contractor while Fluke Networks has focused on the IT professional. Both companies make significant contributions to standards development and both have gained a reputation for technical competence.
This alliance will bring several benefits to Fluke and Microtest's customers. The new company will be better equipped to address changing requirements. A combined technical expertise lets them respond faster to the needs of the industry and act on a greater number of different issues simultaneously.
New field measurements occasionally proposed in standards bodies are acknowledged to be formidable technical challenges. Now Fluke says it will be in a better position to respond. Also, by combining efforts on measurement technology, companion software, and other tool features, the company says it will be able to give the industry additional ease of use, reduced training costs, improved tool flexibility, and extended tool life.
Fluke says it will offer positions to most Microtest employees, and some restructuring will occur in Microtest businesses not core to Fluke.
