Agilent Technologies announced plans earlier this week to purchase communications software maker Objective Systems Integrators (OSI).
Agilent will tender a purchase offer for OSI to buy all outstanding shares of the company for $US17.75 per share in cash or approximately $665 million.
Agilent expects the deal to close within six weeks after a number of conditions have been met. Close to 54 per cent of OSI shareholders already entered into voting agreements to tender their shares in the offer. Agilent must receive the majority of shares from those shareholders who have yet to enter into the agreement and receive regulatory approval before the deal can close.
Hewlett-Packard spun off Agilent in June to start a company focused on communications and life sciences technologies. OSI makes operations support system (OSS) software for communications services providers and could complement Agilent's work in this space.