Keysight, Spirent enter consent decree to divest business lines to Viavi

Keysight Technologies (KEYS) confirmed that Keysight and Spirent Communications have entered into a consent decree with the United States Department of Justice in connection with its review of Keysight’s proposed acquisition of Spirent, pursuant to which Keysight and Spirent have agreed to divest Spirent’s high-speed ethernet, network security, and channel emulation business lines to Viavi (VIAV) or another acquirer approved by DOJ. The consent decree is an important milestone that moves the acquisition one step closer to closing, pending other regulatory approvals and the satisfaction of customary closing conditions. Pursuant to the settlement process, DOJ has filed in court a proposed settlement and an asset preservation and hold separate stipulation and order. Keysight and Spirent have also entered into a short side letter in respect to the settlement process with DOJ.