Ixia to cut 80 jobs following acquisition

admin Contributor
Font Size:

CALABASAS, Calif. (AP) — Network hardware maker Ixia said Thursday it is eliminating about 80 jobs to cut duplicate functions after its acquisition of the N2X product line from Agilent Technologies Inc.

The company also lifted its fourth-quarter sales forecast to reflect contributions from two recent deals.

Ixia now expects $54 million to $56 million in revenue, an increase of about 32 percent over the same quarter last year. Its previous forecast called for sales of $50 million to $54 million.

On average, analysts polled by Thomson Reuters were expecting $53 million.

Part of the uptick came from Ixia’s acquisition last year of Catapult Communications as well as the N2X product line, which it bought in October.

The company said job cuts, which it plans to complete by the end of June, will save it about $11 million annually.