Latest news with #divestiture
CNA
17 hours ago
- Business
- CNA
Keysight to divest Spirent units to VIAVI as part of US consent agreement
Electronic equipment maker Keysight Technologies on Tuesday said it will divest Spirent Communications' high-speed ethernet and other business lines to VIAVI Solutions as part of a consent agreement with the U.S. Department of Justice. On Monday, the DOJ required Keysight to divest three of Spirent's businesses, including high-speed ethernet, network security, and channel emulation business lines, to address antitrust concerns tied its acquisition of the British telecommunications firm for a purchase originally valued at $1.5 billion.
Reuters
17 hours ago
- Business
- Reuters
Keysight to divest Spirent units to VIAVI as part of US consent agreement
June 3 (Reuters) - Electronic equipment maker Keysight Technologies (KEYS.N), opens new tab on Tuesday said it will divest Spirent Communications' (SPT.L), opens new tab high-speed ethernet and other business lines to VIAVI Solutions (VIAV.O), opens new tab as part of a consent agreement with the U.S. Department of Justice. On Monday, the DOJ required Keysight to divest three of Spirent's businesses, including high-speed ethernet, network security, and channel emulation business lines, to address antitrust concerns tied its acquisition of the British telecommunications firm for a purchase originally valued at $1.5 billion.
Finextra
5 days ago
- Business
- Finextra
Global Payments to sell payroll unit for $1.1bn
Global Payments continues to simplify its business, agreeing to offload its payroll unit to fintech Acrisure for $1.1 billion. 0 The divestiture is the latest step Global Payments has taken to position itself as a pure play merchant solutions provider, shedding non-core businesses. In April it agreed a blockbuster deal to buy Worldpay from GTRC and FIS for $22.7 billion while offloading its Issuer Solutions business to FIS for $13.5 billion. Last year, it also sold its medical software business AdvancedMD for $1.13 billion. "I am pleased with the progress we are making with our transformation program as we move aggressively to simplify our business and enhance value for shareholders," says Cameron Bready, CEO, Global Payments. In connection with the payroll transaction, Global Payments has entered into a mutual referral agreement and long-term commercial partnership with Acrisure in which it will continue delivering human capital management and payroll offerings to its merchant customers. Proceeds of the deal - set to close the second half subject to regulatory approval - will be used to return capital to shareholders.
Reuters
7 days ago
- Business
- Reuters
Global Payments to sell payroll business to Acrisure for $1.1 billion
May 28 (Reuters) - Global Payments (GPN.N), opens new tab said on Wednesday it would sell its payroll business to financial technology firm Acrisure for $1.1 billion, marking the payments company's latest attempt at simplifying its business model. The company intends to use the proceeds from the divestiture to return capital to shareholders. "This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated," CEO Cameron Bready said in a statement. As part of a three-way deal announced last month, Global Payments will sell its issuer solutions unit, which offers card processing and account services, to FIS (FIS.N), opens new tab for $13.5 billion.
CNA
7 days ago
- Business
- CNA
Global Payments to sell payroll business to Acrisure for $1.1 billion
Global Payments said on Wednesday it would sell its payroll business to financial technology firm Acrisure for $1.1 billion, marking the payments company's latest attempt at simplifying its business model. The company intends to use the proceeds from the divestiture to return capital to shareholders. "This transaction further sharpens our strategic focus and allows us to amplify investment in the markets and solutions where we are most differentiated," CEO Cameron Bready said in a statement. As part of a three-way deal announced last month, Global Payments will sell its issuer solutions unit, which offers card processing and account services, to FIS for $13.5 billion.
