Belden to Buy PPC for $517.7M
ST. LOUIS -- Belden Inc. (BDC), a global leader in signal transmission solutions for mission-critical applications, today announced it has acquired privately held PPC, a leading provider of broadband connectivity solutions headquartered in Syracuse, New York, for $515.7 million. A full discussion, including strategic rationale and potential impact to 2013 results, will be provided during Belden’s Investor Day event, being held today at 1:00 p.m. ET. A live webcast and replay of the entire event can be accessed at http://investor.belden.com.
PPC, with 2012 revenues of approximately $238 million, is a leading manufacturer and developer of advanced connectivity technologies for the broadband service provider market. PPC has a long history of innovation and an industry leading portfolio of products, supported by a talented team, and strong customer relationships.
“This acquisition is a wonderful example of our business transformation and highlights our strategic focus on building global business platforms with strong financial attributes, serving attractive end markets,” said John Stroup, President and CEO of Belden. “PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls. Belden and PPC will provide unique end-to-end solutions for these customers, and I am excited about the opportunity ahead of us.”