Bowthorpe in pounds 288m US deal
Wednesday 16 June 1999
The acquisition links Bowthorpe's existing wide area network testing business with Netcom's local area network and Internet protocol network testing operation. The combined business will give Bowthorpe about 15 per cent of the pounds 1bn network testing market compared with the 40 per cent share held by a unit of Hewlett Packard, the computer equipment maker.
Rapid expansion in wireless, satellite and fixed-line data networks to service mushrooming demand has meant a mini-boom for companies that diagnose network performance and provide trouble shooting support. "This really completes the coverage we can offer major telecoms companies around the world," said Nick Brookes, Bowthorpe chief executive. "We get a lot of revenue synergies. Netcom really fits very well," he said.
Funded from an existing pounds 440m debt facility, the acquisition will be earnings neutral this year, but boost earnings per share in the first half of 2000. Telecoms networking testing is expected to contribute half Bowthorpe's earnings in 1999, up from 43 per cent a year ago to a pre- tax profit of pounds 92.1m.
Based at Calabassas in southern California, Netcommade operating profit of $32.3m on revenue of $73.5m in 1998.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...
£20000 - £25000 per annum + OTE £35000: SThree: SThree are a global FTSE 250 b...