|By Business Wire||
|February 6, 2014 08:00 PM EST||
Aeroflex Holding Corp. ("Aeroflex") (NYSE:ARX), a leading global provider of high performance microelectronic components, and test and measurement equipment, today announced the acquisition of Shenick Network Systems (“Shenick”), a leading edge provider of virtual testing for next generation software defined networking.
“Shenick provides Aeroflex with next generation technology in the rapidly growing virtual test market,” stated Len Borow, Aeroflex’s Chief Executive Officer. “For the last two years, we have partnered with Shenick to enhance the capabilities of our wireless infrastructure test products. Shenick’s unique TeraVM™ software product offers network providers the ability to emulate and measure millions of unique IP application flows to support network and application development and performance testing in next generation converged and cloud based networks. We believe that this acquisition will help us continue to grow and maintain our leading market position in wireless infrastructure test equipment and to increase our gross margins and profitability while expanding our end markets.”
Aeroflex expects the acquisition to be neutral to its fiscal 2014 financial results and accretive to its fiscal 2015 financial results. Aeroflex will discuss the acquisition in more detail on its second quarter fiscal 2014 webcast and conference call being held on Friday, February 7, 2014 at 8:15am. To participate in the live webcast, please visit the events page located at www.aeroflex.com.
Shenick, headquartered in Dublin, Ireland, is a pioneer in the IP test and measurement testing market and has developed a unique solution for today’s virtualized and physical network infrastructure. TeraVM™ helps service providers and network equipment manufacturers load, analyze, develop and validate the performance and capabilities of a wide variety of network and security devices including VPN/Firewall, vSwitch, DPI or IPS/IDS, vLoad Balancer and video infrastructure. Additionally, TeraVM™ provides highly realistic and very high load traffic generation and analysis from 1 Gigabit to 1 Terabit of fully stateful data application traffic, with comprehensive measurement and performance analysis on each and every application flow to easily pinpoint and isolate problems.
Aeroflex Holding Corp. is a leading global provider of high performance microelectronic components, and test and measurement equipment used by companies in the space, avionics, defense, commercial wireless communications, medical and other markets.
All statements other than statements of historical fact included in this press release regarding Aeroflex’s business strategy, financial results and plans and objectives of its management for future operations are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to Aeroflex or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Aeroflex’s management, as well as assumptions made by and information currently available to its management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, including but not limited to, adverse developments in the global economy; changes in government spending; dependence on growth in customers’ businesses; the ability to remain competitive in the markets Aeroflex serves; the inability to continue to develop, manufacture and market innovative, customized products and services that meet customer requirements for performance and reliability; the failure of suppliers to provide raw materials and/or properly functioning component parts; the inability to meet covenants contained in debt agreements; the termination of key contracts, including technology license agreements, or loss of key customers; the inability to protect intellectual property; the failure to comply with regulations such as International Traffic in Arms Regulations, the Foreign Corrupt Practices Act and Conflict Minerals regulations, and any changes in regulations; the failure to realize anticipated benefits from completed acquisitions, divestitures or restructurings, or the possibility that such acquisitions, divestitures or restructurings could adversely affect Aeroflex; the loss of key employees; exposure to foreign currency exchange rate risks; and terrorist acts or acts of war. Such statements reflect the current views of management with respect to the future and are subject to these and other risks, uncertainties and assumptions. Aeroflex does not undertake any obligation to update such forward-looking statements. Any projections in this release are based on limited information currently available to Aeroflex, which is subject to change. Although any such projections and the factors influencing them will likely change, Aeroflex will not necessarily update the information, since Aeroflex will only provide guidance at certain points during the year.