Danaher Corporation (NYSE: DHR – $71.70) announced a definitive agreement with NetScout Systems, Inc. to combine Danaher’s Communications businesses with NetScout in a tax-free transaction creating a global provider of network management tools and security solutions for carrier and enterprise customers. At the closing of the transaction, Danaher shareholders will receive about 60% of the issued and outstanding shares of NetScout after giving effect to the approximately $2.6 billion transaction. Danaher’s Communications includes the Tektronix, Fluke Networks and Arbor Networks names. The data cabling tools business and carrier service provider tools business of Fluke Networks will be excluded from the transaction. Under the deal, Danaher will either spin-off or split-off the businesses into a unit, which will then merge with NetScout. The transaction is scheduled to close sometime in 2015 and is subject to approval by NetScout shareholders. At the closing, Danaher shareholders will receive about 60% of NetScout’s outstanding shares. Danaher is continuing to sharpen its focus and concentrate on high margin businesses which includes its dental division. Last month Danaher announced the acquisition of Nobel Biocare a major player in the dental implant business. The shares of DHR, down sharply of late along with the overall market, are a worthwhile holding for the patient investor with a well-diversified conservative account.