Belden buys connector manufacturer PPC for $515 million
Privately held company produces connectivity products for broadband, wireless and security applications.
Less than two weeks after announcing it was divesting its aerospace and defense cable business for $265 million, Belden announced it is acquiring a privately held manufacturer of connectivity products for broadband applications, for approximately $515 million. Belden will acquire Syracuse, NY-based PPC for $515.7 million, the company announced.
“PPC, with 2012 revenues of approximately $238 million, is a leading manufacturer and developer of advanced connectivity technologies for the broadband service provider market,” Belden said when announcing the acquisition. Belden said the combined company “will be a leader in broadband connectivity,” adding that the acquisition “significantly enhanced Belden’s broadcast solutions platform and increases exposure to attractive end markets.”
Belden’s president and chief executive officer John Stroup said, “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. PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and advanced services, with fewer service calls. Belden and PPC will provide unique end-to-end solutions for these customers.”
PPC’s product portfolio includes connectivity products such as F connectors and assemblies, MSO entry devices, drop amplifiers, splitters, taps, filters and hardline connectors for broadband applications. It also includes wireless-based connectivity products. PPC also lists the Teko Telecom Sirius distributed antenna system among its portfolio.