August 11, 2005 05:34 ET

Anritsu Corporation to Acquire NetTest A/S

ATSUGI-CITY, Kanagawa, Japan--(CCNMatthews - Aug 11, 2005) -

Anritsu Corporation (TOKYO:6754) ("Anritsu"), the largest Japanese provider of communication solutions, today announced that they have signed a definitive agreement with Axcel and the management of NetTest to acquire NetTest, a leading global provider of network monitoring systems and field use communications test products. Anritsu will acquire 100% of the outstanding shares of NetTest A/S.

NetTest is headquartered in Copenhagen, Denmark, and has 480 employees. Other primary locations for R&D facilities are in the U.S., France and Italy. For the year ended December 31, 2004, NetTest had revenues of approximately US $94 million with sales in over 70 countries. NetTest's wireless network monitoring solutions enjoy a 28% global market share. These solutions enable service providers to optimize their network efficiency and service quality as well as operational efficiency and profitability. NetTest's products address IP Next Generation Networks and their convergence, including UMTS/3G mobile and VoIP technologies, as well as today's networks in all regions of the world. NetTest also provides high-level field solutions that address the broadband access network that is expanding rapidly in many major metropolitan areas.

Anritsu sees synergies in the technologies acquired which will enable the faster development of new innovative solutions for customers when coupled with Anritsu's broad technology base. On a combined basis, Anritsu and NetTest have an enviable customer base with a broad coverage of both equipment manufacturers and network operators. In addition, the geographic presence of the combined organization will further enhance Anritsu's ability to locally service and support customers at a higher technical level. In addition to a strong US and western European presence, NetTest has developed robust business in rapidly growing economies, such as Eastern Europe, Russia, the Middle East, and South America. Anritsu, on the other hand, can very strongly support NetTest's business in Japan and other parts of the Asia Pacific region.

Anritsu's president, Hiromichi Toda, stated: "The acquisition of NetTest will accelerate Anritsu's vision to be a global market leader in test and measurement. Together we will work closely with customers to create innovative solutions that increase customer value and create new demand." Mr. Toda also emphasized that "the addition of NetTest will expand Anritsu's business domain into the high growth markets for network performance monitoring and service assurance."

NetTest has been owned by Axcel II and management since the last day of 2002, when the company was acquired from GN Great Nordic. Since the acquisition by Axcel and management, NetTest has repositioned itself from an all optical strategy to a network performance strategy. During this period NetTest has developed and launched a broad range of new products and has won several new major telecom operator accounts.

Kaj Juul-Pedersen, chairman of the board, and Allan J. Vestergaard, CEO and President of NetTest, say in a joint statement: "We are pleased to see NetTest becoming an important cornerstone for growth and geographical expansion of a major recognized telecommunication T&M company. The acquisition by Anritsu gives NetTest a financially strong complimentary owner which can accelerate the worldwide distribution of our products and expand product developments that NetTest has undertaken in the last years."

Christian Frigast, managing partner at Axcel, comments: "Having completed successfully the restructuring and repositioning of NetTest and accelerated growth through significant product development, we believe it is now time for a major industrial owner with strong technology competencies and a global presence to further develop NetTest. We see Anritsu as such an ideal owner. We strongly believe that the employees and customers of NetTest will appreciate the merits of the combined company."

The transaction, which has been approved by both companies' Boards of Directors, is expected to close before the end of August.

Konomi, Inc. has been advisor to Anritsu Corporation and Morgan Stanley & Co. Limited acted as financial advisor to Axcel and the management of NetTest.

About Anritsu

Anritsu Corporation ( is a global provider of innovative communications solutions for more than 110 years. With offices throughout the world, Anritsu provides solutions for existing and next-generation wired and wireless communication systems. Its measurement solutions include wireless, optical, microwave/RF, and digital instruments that can be used during R&D, manufacturing, installation, and maintenance. Anritsu also provides precision microwave/RF components, optical devices, and high-speed devices for design into communication products and systems. Anritsu has 3600 employees globally with sales for the year ended March 31, 2005, totalling 84 Billion yen (US $790 million).

About NetTest

NetTest ( is a leading specialist in the field of operational support solutions. These solutions provide unique insights into the function and performance of telecommunication networks and services so that owners, operators, and vendors can make informed business decisions that drive their profitability. Headquartered in Copenhagen, Denmark, and with offices in the US, France, Italy, Germany, the UK, Spain, Singapore and China, and represented by distributors all over the world.

About Axcel

Axcel ( is a leading investment company based in Denmark with focus on midsized companies. Following the sale of NetTest, Axcel has investments in 14 companies with combined sales of approx. EUR 3 billion. Axcel's shareholders include major financial institutions, industrial companies and private families. Axcel has a total committed capital of more than EUR 800 million under management. Axcel has in June 2005 established a new fund, Axcel III.

Contact Information

  • Anritsu
    Tetsuo Kawabe, +81 46 296 6507
    (Public & Investor Relations)
    Christian Frigast, +45 33 36 69 99
    Allan J. Vestergaard, +45 72 11 22 01
    Kaj Juul-Pedersen, +45 27 20 17 17