Tyco Electronics acquiring ADC
The $1.25 billion deal is expected to close in the fourth quarter of 2010.
Tyco Electronics is acquiring ADC for approximately $1.25 billion.
In a statement announcing the acquisition agreement, Tyco CEO Tom Lynch said, "The combination of ADC and Tyco Electronics creates an industry leader, with the scope and geographic scale to help customers deliver needed capacity, from the core of the network all the way to the end user."
ADC president and CEO Robert Switz said, "As part of Tyco Electronics, our organization's ability to serve the world's leading telecommunications service providers and enterprises will be strengthened significantly. I have great respect for Tyco Electronics and know that they share our commitment to meeting customers' changing next-generation network needs."
The statement issued by ADC made specific mention of ADC's distributed antenna system (DAS) products.
The release further stated that the transaction is structured as a tender offer to be followed as soon as possible by a merger. It is subject to customary closing conditions and regulatory approvals.
Closing is expected in the fourth quarter of this year.