CommScope Acquires TE Connectivity’s Wireless BusinessesComments Off on CommScope Acquires TE Connectivity’s Wireless Businesses
CommScope Holding Company has completed its previously announced acquisition of TE Connectivity’s Telecom, Enterprise and Wireless businesses, a leader in fiber optic connectivity for wireline and wireless networks. This acquisition strengthens CommScope’s position as a communications infrastructure provider. The all-cash transaction is valued at approximately $3 billion. The deal is expected to be significantly accretive to CommScope’s adjusted earnings per share and exceed $150 million in annual synergies in 2018.
“We are excited to move forward as one company positioned for continued success,” said Eddie Edwards, CommScope president and chief executive officer. “Together, we look to accelerate industry innovation, solve more wired and wireless network challenges, and better serve customers in more markets around the world. By uniting our complementary solutions, technologies and geographic and market coverage, we have created a stronger platform for competing successfully.”
The newly-acquired TE Connectivity Broadband Network Solutions (BNS) businesses will be operated as one of CommScope’s business segments, alongside the existing CommScope segments of Wireless, Enterprise and Broadband. David Redfern will continue in his current role as leader of the BNS team, reporting to CommScope Chief Operating Officer Randy Crenshaw.
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