Belden Acquires PPC for $515.7M
Belden has purchased specialty HDMI cable manufacturer PPC/PerfectPath for $515.7 million.
Belden Inc., a global leader in signal transmission solutions for mission-critical applications, has acquired privately held PPC, makers of broadband connectivity solutions such as the popular brand PerfectPath, for $515.7 million.
The acquisition brings Belden into the higher-end cable market, which combined with its marketshare in the signal transmission area, will make it a formidable option as part of the Belden Broadcast Solutions platform.
According to details from Belden, PPC has an operating margin above 22 percent, which made it “accretive to Belden’s consolidated operating results” and for its stock price.
PPC, with 2012 revenues of approximately $238 million, made a splash in the custom electronics market when it came out with an HDMI locking connector.
“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,” says John Stroup, president and CEO of Belden. “PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls. Belden and PPC will provide unique end-to-end solutions for these customers, and I am excited about the opportunity ahead of us.”
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