Aug. 5 at 2:47 PM
$VIAV quietly turned a missed acquisition into a major strategic win.
Back in 2024, VIAVI lost the Spirent deal after bidding about
$1.3B against
$KEYS at
$1.5B.
Then everything changed.
The DOJ challenged the Keysight + Spirent combination, forcing the divestiture of three critical businesses:
• High-speed ethernet testing
• Network security testing
• Channel emulation
In October 2025,
$VIAV acquired those assets for just
$425M cash -capturing roughly 40% of Spirent's revenue at a fraction of the original purchase price.
The company went from owning the physical layer of networking to covering Layer 0 through Layer 7.
Now the high-speed network testing market has effectively become a
$VIAV +
$KEYS duopoly.
This is why I believe the market is underestimating VIAVI’s positioning in AI infrastructure, optical networking, and next-generation connectivity.
Keeping an eye on:
$AEHR
$FORM
$COHU
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