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Veritas Capital to Acquire RF Technology Firm Anaren for $381M; Hugh Evans Comments

acquisitionA Veritas Capital Fund IV LP affiliate has agreed to acquire microwave and RF technology company Anaren Inc. (NASDAQ: ANEN) for nearly $381 million.

Veritas Capital will buy Anaren for $28 per share, an estimated 12.4 percent premium over Anaren’s common stock price of $24.91 before Friday’s close, the companies said Monday.

Hugh Evans, a partner at Veritas Capital, said the private equity firm intends for the acquisition to help grow Anaren’s technologies for existing and adjacent markets.

Larry Sala, Anaren chairman, president and CEO, added the company will leverage Veritas Capital’s financial resources in order to expand Anaren’s technologies and services for customers.

The deal is pending Anaren shareholders’ approval and other closing regulations.

Moelis & Company LLC, Houlihan Lokey Capital Inc., Bond Schoeneck & King PLLC and Dorsey & Whitney LLP advised Anaren on the transaction.

Skadden, Arps, Slate, Meagher & Flom LLP served as legal adviser to Veritas Capital.

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