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Ixia Rises on Buyout Report

Joel Russel
By Joel Russel
13

Shares of Ixia rose nearly 15 percent Friday after Reuters published an article saying the company was looking for a potential buyer. The Calabasas company which makes computer network security hardware is working with an investment bank, according to unnamed sources cited by Reuters. Other computer companies and private equity funds are considering the deal, which would occur weeks in the future if at possible, the report said. For the third quarter ended Sept. 30, Ixia reported net income of $4.8 million (6 cents a share), compared to net income of $4 million (5 cents) for the same quarter a year ago. Revenue decreased 1.6 percent to $130 million. Shares closed Friday up $2 or 14.8 percent to $15.55 on the Nasdaq.

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Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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