Symmetricom announces agreement to acquire assets of Brilliant Telecommunications

SAN JOSE, USA: Symmetricom Inc., a worldwide leader in precise time and frequency technologies, has entered into an agreement to acquire certain assets of Brilliant Telecommunications Inc. including all of its intellectual property, for a cash purchase price of $3.5 million.

Symmetricom will pay an additional $2.3M in cash if certain milestones are achieved within six months of closing. The closing of the transaction is subject to customary closing conditions. Based in Campbell, California, Brilliant Telecommunications has developed a family of network timing, management and synchronization solutions, which addresses emerging communications trends such as IP backhaul and the femtocell market segment.

Symmetricom will immediately begin to support Brilliant’s customers and strategic partners following the close of the transaction.

“Synchronization and timing are increasingly critical considerations in the ongoing migration to Carrier IP networks,” said James Armstrong, Executive Vice President and General Manager of the Communications Business Unit. “This acquisition augments our leadership in network timing and synchronization solutions.”

“My team and I are very pleased to join Symmetricom to expand the company’s communications market opportunities,” commented Dr. Charles Barry, president and founder of Brilliant Telecommunications. “The resulting technology suite will provide unmatched breadth and capability for high performance synchronization solutions.”

Symmetricom plans to integrate the acquired Brilliant technology, products and employees into the company’s Communications Business Unit.

Symmetricom expects to incur approximately $2.3 million in integration-related charges and anticipates the transaction to be accretive in the first quarter of fiscal 2012.