Tyco Electronics to Acquire ADC

  • ADC
  • Tyco Electronics
SCHAFFHAUSEN, SWITZERLAND and EDEN PRAIRIE, MN - The broadband equipment industry continues to consolidate, with Tyco Electronics announcing today that it will acquire ADC for $1.25 billion. Tyco says the transaction will position its Network Solutions segment as a leading global provider of broadband connectivity products to carrier and enterprise networks around the world.

Tom Lynch, CEO of Tyco Electronics, says, "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 videoconferencing capabilities. 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."

The combined organization will offer a complete product portfolio across every major geographic market. It will also add ADC's Distributed Antenna System products, which will expand Tyco Electronics' wireless connectivity portfolio to provide greater mobile coverage and capacity solutions to carrier and enterprise customers as demand for mobile data continues to expand. Additionally, Tyco Electronics will add ADC's professional services organization in the United States to its business.

The transaction is structured as a tender offer to be followed as soon as possible by a merger. The transaction is subject to customary closing conditions, including the tender of a majority of ADC shares and regulatory approvals, and is expected to close in the fourth calendar quarter 2010.

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