Belden Inc., a manufacturer and provider of signal transmission solutions for mission-critical applications, yesterday said it has acquired privately held PPC, a provider of broadband connectivity solutions headquartered in Syracuse, New York, for $515.7 million.
PPC, with 2012 revenues of approximately $238 million, is a manufacturer and developer of advanced connectivity technologies for the broadband service provider market.
“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,” said John Stroup, president and CEO of Belden.
Belden also reaffirmed its guidance for the quarter. It expects revenue to be $500 to $510 million for the fourth quarter and $1.94 to $1.95 billion for the full year ending December 31.
Just two weeks ago, Belden entered into a definitive agreement to sell its Thermax and Raydex cable businesses serving the aerospace and defense industry to Carlisle Companies for approximately $265 million. The transaction is expected to close by December 31, 2012.
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