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30 September 2016: Ascom to divest its Network Testing Division to InfoVista

October 2016 - Finance. Legal Developments by Walder Wyss Ltd.

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Ascom Holding AG (SIX: ASCN) and InfoVista have closed a sale agreement under which InfoVista acquired the Network Testing Division. The transaction is based on a cash-free / debt-free enterprise value of USD 45 million. Ascom received USD 30 million in cash at closing and the remainder of the consideration is in the form of a subordinated vendor loan with a nominal value of USD 15 million, a 7-year maturity and a stated interest rate of 4% p.a.

The Network Testing Division (TEMS) is a market and brand leader in testing, optimization, benchmarking and monitoring solutions for mobile networks. With around 400 employees, the division has long-standing relationships with over 650 customers in more than 130 countries. The headquarter is located in Reston VA, United States.

InfoVista (www.infovista.com) is a worldwide provider of network performance software solutions and services with headquarters in the Paris area. With more than 430 employees, InfoVista provides software and services to over 1,200 customers in more than 120 countries.

Walder Wyss AG has acted as advisor to Ascom in all legal aspects of the transaction. The team was led by Urs Schenker (Partner, Corporate/M&A) and Alex Nikitine (Partner, Corporate/M&A, Capital Markets) and further included Theodor Härtsch (Partner, Corporate/M&A, Finance), Mark A. Reutter (Partner, IP/IT), Sugandha Kumar (Associate, Finance), Katrin Tschalèr (Trainee, Corporate/M&A), Vera Krüttli (Associate, Corporate/M&A) and Janine Corti (Associate, Tax).