Mergers and Acquistions News
Categories: Telecoms
July 14th 2010, 18:22PM
Switzerland-based group Tyco Electronics has acquired broadband equipment firm ADC Telecommunications.
The deal sees Tyco acquiring ADC for $12.75 per share, or $1.25 billion (£821 million).
ADC's innovative Distributed Antenna System (DAS) was a driving force behind the merger. Tyco sees it as helping the firm to expand in the growing consumer electronics market.
Tom Lynch, chief executive officer of Tyco Electronics, said: "This is a very exciting time for our company and ADC is a great fit as we continue to execute our strategy to create strong leadership positions in all of our connectivity businesses.
"Consumers and enterprises want access to high-speed video and data wherever they are, on whatever devices they are using ? from smart phones to HD and 3-D televisions to computers with advanced video-conferencing capabilities."
Experts said the acquisition was an adroit move.
"It's a smart deal," telecoms analyst Lawrence Harris told Reuters.
"The fiber-optic connectivity space is an area that's going to experience growth in the next several years."
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