Wednesday, December 8, 2010

Tyco Electronics Completes Acquisition of ADC

Tyco Electronics completed its previously-announced acquisition of ADC Telecommunications.

Tom Lynch, Chief Executive Officer of TE, said, "With our expanded product offering and strong position in every major geographic region, TE will provide the broad range of products and solutions our customers need to keep pace with the rapidly increasing demand for video and data connectivity anytime and anywhere."

The deal positions Tyco Electronics' Network Solutions segment as a leading global provider of broadband connectivity products to carrier and enterprise networks.

ADC's connectivity product portfolio provides end-to-end network infrastructure solutions for central office, data center, outside plant and wireless network and cell-site deployments. Tyco Electronics' Network Solutions group supplies infrastructure components and systems for the communication service provider, building networks and energy markets, including connectors, above- and below-ground enclosures, heat shrink sleeves, cable accessories, surge arrestors, fiber optic cabling, copper cabling and racks for copper and fiber networks. The company is also a leader in developing, manufacturing, installing and maintaining advanced fiber optic undersea networks.

When the deal was first announced in July 2010, the companies valued the transaction at approximately $1.25 billion, or $12.75 per ADC share in cash.

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