×

Data tech company Ixia sees shares jump after merger announcement

537331500
Monsitj | Getty Images

Networking and data technology company Ixia saw its shares jump nearly 7 percent Monday after Keysight Technologies announced they were acquiring the Calabasas, California-based company.

Keysight, a company that sells measurement equipment and software to the electronics industry, announced early Monday that they were acquiring the company for $1.6 billion in an all-cash deal. The offer, at $19.65 per share, is an 8 percent premium over Friday's close.

Five-day performance of Ixia

"The combination creates a powerful innovation engine to fuel growth, expands our software-centric solutions and builds new opportunities through sales and technology leverage," Keysight CEO Ron Nersesian said in a press release. "Ixia also brings a world-class level of talent, and together, we will provide leading-edge solutions that address the fastest-growing communications and networking trends."

Shares of Ixia are up over 43 percent since rumors of an acquisition first surfaced on Dec. 1.