GERMANTOWN, Md.-TTC, a unit of Dynatech Corp., and Wavetek Wandel Goltermann announced plans to merge. According to TTC, the new company, which will announce its name later, will offer broader capabilities in test and monitoring solutions for the communications industry worldwide.
The new company will have more that $800 million in worldwide revenue and more than 4,000 employees, and it will invest $135 million annually in research and development.
Ned Lautenbach, chairman and chief executive officer of Dynatech, will be chairman and CEO of the new company. Lautenbach also is a principal of Clayton, Dubilier & Rice Inc., a private investment firm that manages a fund owning approximately 70 percent of Dynatech on a fully diluted basis.
“By combining the number two and three companies in the market, we will create a strong challenger for the top positions worldwide,” said Lautenbach. “The companies are an excellent fit with largely complementary product offerings and sales and distribution channels.”
Peter Wagner, president and CEO of WWG, will become vice chairman of the new company, with John Peeler, president and CEO of TTC, joining as president.
Financial terms of the merger will be released separately by Dynatech Corp.
