Channel old-boy Anite delists after takeover

IT services player bought out by Keysight Technologies for $600m

Channel player Anite announced today it has delisted from the London Stock Exchange following its $600m (£384.5m) acquisition by electronic measurement company Keysight Technologies.

Founded in 1973 as Cray Electronics, the company first listed on the stock market in 1984. It changed its name to Anite in 1996 and has morphed into an IT services firm, today delivering software solutions for wireless research and development.

Anite's move away from the stock market comes a day after its acquisition by Keysight.

Ron Nersesian, Keysight CEO, said the deal will boost his company's software business.

"The acquisition of Anite strengthens Keysight's wireless portfolio and helps us to expand our software offerings as we transition to a software-oriented solutions company. Our combined, complementary strengths will enable us to provide greater value and more possibilities for our customers," he said.

For its financial year ending 30 April, Anite's EBITDA was up 27.9 per cent at £30.7m, on revenues of £118.4m, which were up 8.42 per cent.

Hampshire-based Anite has more than 500 employees and operates across Europe, the Americas, Asia and the Middle East.