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.
