M&A Deal Summary

VIAVI Acquires Network Instruments

On December 11, 2013, VIAVI acquired technology hardware company Network Instruments from Thoma Bravo and Avante Capital Partners for 200M USD

Acquisition Highlights
  • This is VIAVI’s 17th transaction in the Technology Hardware sector.
  • This is VIAVI’s 7th largest (disclosed) transaction.
  • This is VIAVI’s 21st transaction in the United States.
  • This is VIAVI’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2013-12-11
Target Network Instruments
Sector Technology Hardware
Buyer(s) VIAVI
Sellers(s) Thoma Bravo
Avante Capital Partners
Deal Type Add-on Acquisition
Deal Value 200M USD

Target

Network Instruments

Minnetonka, Minnesota, United States
Network Instruments is an industry leader in application and network troubleshooting and analysis. Its monitoring and management tools optimize performance and speed problem resolution, helping ensure delivery of critical applications for businesses worldwide. It delivers these benefits through a seamlessly integrated line of software and hardware systems that are precision engineered for exact network monitoring and analysis.

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Buyer(S) 1

Buyer

VIAVI

Chandler, Arizona, United States

Category Company
Founded 1923
Sector Technology Hardware
Employees3,600
Revenue 1.1B USD (2023)
DESCRIPTION

VIAVI specializes in the design and manufacture of products for optical communications networks, communications test and measurement equipment, lasers, and optical solutions. The Company was originally known as JDS Uniphase Corp. and became VIAVI in 2015. Viavi was founded in 1923 and is based in Chandler, Arizona.


DEAL STATS #
Overall 31 of 35
Sector (Technology Hardware) 17 of 17
Type (Add-on Acquisition) 22 of 25
State (Minnesota) 1 of 1
Country (United States) 21 of 22
Year (2013) 2 of 2
Size (of disclosed) 7 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-03-08 Arieso

Newbury, United Kingdom

Arieso Ltd. is a provider in location-aware software solutions that enable mobile network operators to boost 2G, 3G and 4G/LTE network performance and enrich the mobile subscriber experience.

Buy $85M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-26 Time-Bandwidth Products AG

Zurich, Switzerland

Time-Bandwidth Products AG is a provider of high-powered and ultrafast lasers for the industrial and scientific markets.

Buy -

Seller(S) 2

SELLER

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


DEAL STATS #
Overall 18 of 79
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 10 of 36
State (Minnesota) 1 of 3
Country (United States) 18 of 73
Year (2013) 3 of 4
Size (of disclosed) 21 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 Digital Insight

Menlo Park, California, United States

Digital Insight, formerly the Financial Services division of Intuit, Inc., helps banks and credit unions grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money.

Sell $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-17 Entrust

Dallas, Texas, United States

Entrust secures digital identities and information for consumers, enterprises and governments in more than 2,000 organizations spanning 60 countries. Leveraging a layered security approach to address growing risks, Entrust solutions help secure the most common digital identity and information protection pain points in an organization. These include SSL, authentication, fraud detection, shared data protection and e-mail security.

Sell -
SELLER

Avante Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 2009
Size Small
Type Sector Agnostic
DESCRIPTION

Avante Mezzanine Partners is a provider of junior capital to lower middle-market companies generating at least $3 million in cash flow. The Firm looks to invest $5 to $20 million per transaction and generally works with private equity and independent sponsors in buyout transactions, as well as with entrepreneurs and owners to finance recapitalizations, refinancings, acquisitions and growth. Avante Mezzanine was formed in 2009 and has offices in Los Angeles and Boston.


DEAL STATS #
Overall 2 of 17
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (Minnesota) 1 of 3
Country (United States) 2 of 17
Year (2013) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-21 Learners Edge

Eagan, Minnesota, United States

Learners Edge provides online professional development, continuing education, and master’s degree programs for K-12 teachers. Learners Edge was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. Learners Edge was founded in 2002 and is based in Eagan, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-19 FoodChain ID

Fairfield, Iowa, United States

FoodChain ID is a provider of analytic testing, third-party certification, and consulting services to the agriculture and food industries. The company’s products are used for the testing of food and agricultural products to detect genetically modified organisms (GMOs) and to ensure compliance with national and international government regulations, client and trading partner demands, and consumer information needs. FoodChain ID was founded in 1996 and is based in Fairfield, Iowa.

Buy -