Viavi to Buy Spirent’s Ethernet, Security Units for $425 Million

Viavi Solutions Inc. has agreed to buy Spirent Communications Plc’s ethernet and network security businesses for $425 million after losing out on a bid for the whole company.

The deal is structured so that Viavi will pay Spirent’s new owners, Keysight Technologies Inc., $410 million in cash initially and an additional $15 million at closing, the companies said in a statement on Monday. The acquisition is expected to close in the second quarter, shortly after Keysight’s deal to buy Spirent is completed.

Viavi and Keysight had competed for Spirent last year, with Keysight ultimately winning with a bid ...