June 28 (Reuters) - Electronic equipment maker Keysight Technologies (KEYS.N) said on Wednesday it would acquire a controlling stake in French software firm ESI Group (ESIG.PA) in a 913 million euros ($995.81 million) deal.
"Keysight's acquisition of ESI Group accelerates our strategy of providing software-centric solutions with virtual prototyping and advanced simulation capabilities," Keysight CEO Satish Dhanasekaran said in a statement.
Once the deal is completed, Keysight will launch a mandatory tender offer for the remaining outstanding shares of ESI Group, it said.
Th deal will increase Keysight's software revenue and annual recurring revenue, or ARR, Keysight said in a statement.
ESI Group provides services in more than 15 countries and has about 1,000 employees.
Persons:
Satish Dhanasekaran, Keysight, Th, Lavanya, Subhranshu Sahu, Rashmi
Organizations:
Keysight Technologies, ESI, ESI Group, Thomson
Locations:
California, Bengaluru