Belden divests Trapeze Wireless
Juniper Networks is buying the wireless business that Belden acquired in 2008.
Just days after announcing it would acquire Thomas & Betts's communications products business, Belden announced it is selling its Trapeze Wireless business to Juniper Networks. The $152 million deal is expected to close by the end of 2010. Belden acquired Trapeze in 2008 for $133 million.
Much like Belden expressed in 2008, Juniper now expects to see significant upside to its acquisition of Trapeze. Juniper's executive vice president and general manager for fabric and switching technologies David Yen said that bringing Trapeze into the fold "will enable our customers to provide a seamless, high-quality, secure experience to their users regardless of where and how they access the network. Juniper's strong history of technology execution combined with Trapeze's accomplished team ideally positions the company to deliver end-to-end high-performance networking for the world's most demanding networks."
Belden's president and chief executive officer John Stroup said that divesting Trapeze, "enables our organization to remain focused on the long-term growth opportunities for wireless technology in our core markets, including the nascent industrial networking market."