Sonus Networks Announces Agreement to Acquire Performance Technologies
Published on: 14th Dec 2013
By: Ian Mansfield
Sonus Networks and Performance Technologies have announced that they are merging in a deal that enables Sonus to expand and diversify its portfolio with an integrated virtualized Diameter and SIP based solution.
Sonus will acquire PT for approximately $30 million, net of PT's cash and excluding acquisition-related costs.
As the adoption of the mobile Internet grows, the DSC market is forecast to grow by an average of 42% per year from 2013 through 2017, to reach nearly $1 billion, according to Exact Ventures.
Raymond P. Dolan, president and chief executive officer of Sonus commented: "The combination of Sonus and PT allows us to address this significant opportunity by bringing together unique and complementary technologies in wireless and wireline network intelligence, thereby expanding our addressable market by 50% and advancing our mobility and virtualization strategies."
The transaction is expected to close in the first quarter of 2014, subject to PT stockholder approval and the satisfaction of other customary closing conditions.