U.S.-based Keysight Technologies, Inc. (NYSE:KEYS) is preparing to launch a formal offer for British telecommunications testing firm Spirent Communications plc (LSE:SPT), a person familiar with the matter told Reuters. Sky News reported the development first and said the offer would be valued at about GBP 1.15 billion ($1.45 billion), or roughly 200 pence per share. On March 5, U.S.-listed communications equipment firm Viavi Solutions (VIAV.O), had agreed to buy Spirent for about 1.01 billion pounds.

As part of the deal, Spirent shareholders would get 175 pence per share.