Test and measurement company Anite plc announced its final results for its fiscal year, along with the news that it is acquiring one of its distributors, Genentel SAS.
Genentel distributes Anite’s wireless testing software to French-speaking markets including France and North Africa, and is focused on network quality management and mobile network performance, and “will enable Anite to strengthen its position in the French network testing market as LTE 4G networks roll out across Europe,” the company stated. “This acquisition will also offer a platform from which to further develop the French speaking markets in North Africa. Genetel has an experienced technical support team and offers training and consultancy services which will add to Anite’s existing network testing portfolio.”
Genentel has 13 employees and is based in Paris, and it is Anite’s current distributor of Nemo networking test products.
The transaction will cost around $2 million, net of acquired cash balances. Anite said the purchase will be funded from its existing cash and not have an material impact on revenues or profits.
Christopher Humphrey, Anite’s chief executive, described the acquisition as one “which, which, whilst small in size, is strategically important.”
“It expands our Network Testing business, broadens our professional services portfolio and strengthens our position and presence in France and North Africa as LTE 4G networks continue to roll out and begin to mature,” he added.
Anite also announced its final results for the fiscal year ended April 30. Revenues were up 8% year-over-year, and EBITDA jumped 18% to about $52.7 million. The company said that wireless revenues contributed 85% of its total revenues, with handset testing revenue up 14% and growth lead by LTE and conformance testing. In terms of network testing, Anite said it saw acceleration during the second half of the year, although revenues in network testing were flat year-over-year.
