Transforming Network Infrastructure Industry News

TMCNet:  Belden shares jump on PPC announcement

[December 11, 2012]

Belden shares jump on PPC announcement

Dec 11, 2012 (St. Louis Post-Dispatch - McClatchy-Tribune Information Services via COMTEX) -- Updated at 5 p.m. with details, closing share price.

Shares of Belden Inc. rose 6.5 percent Tuesday after the Clayton-based maker of cable, connectivity and networking products announced it bought PPC for $515.7 million.

The acquisition of PPC, based in Syracuse, N.Y., expands Belden's line of broadband products.

PPC makes broadband connectivity products for cable television, telecommunications and Internet service customers. The privately held company, with 774 employees, is expected to post $238 million in revenue in 2012.

"PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls," John Stroup, Belden's chief executive, said in a statement.

A Belden spokesman said the company has formed an integration team to merge operations.

Belden said it expects its 2012 revenue to reach between $1.94 billion and $1.95 billion. About 40 people in Clayton are among Belden's 7,400 employees worldwide.

The company has been a buyer and a seller this year.

Last month, Belden reached agreement to sell its Thermax and Raydex businesses to Charlotte, N.C.-based Carlisle Cos. for $265 million.

After the Thermax-Raydex sale, analyst Shawn Harrison of Longbow Research wrote that the deal added to Belden's "significant dry powder" and provided the company with money to make additional purchases in the networking and connectivity markets.

In June, Belden announced its acquisition of Miranda Technologies Inc., of Montreal, a provider of hardware and software for the broadcast infrastructure industry.

Belden's takeover offer represented about 370 million Canadian dollars, or about $360 million in U.S. currency, according to Bloomberg.

Shares of Belden closed Tuesday at $42.27, up $2.57.

___ (c)2012 the St. Louis Post-Dispatch Visit the St. Louis Post-Dispatch at Distributed by MCT Information Services

[ Back To Transforming Network Infrastructure's Homepage ]

Featured Blog Entries

Reflections from an Interop Veteran and Alum

When I returned to the Fiber Mountain™ offices in Connecticut after exhibiting at Interop Las Vegas 2015, I couldn’t help but think about how much the event has evolved through the years. I have been attending this seminal IT and networking conference since its inception in 1986 when it was called the TCP/IP Vendor Workshop, focused on interoperability of various TCP/IP program stacks.

What Fiber Mountain's Interop Recognition Means for Our Industry

When Fiber Mountain™ began its journey with a launch at Interop New York last fall, we certainly believed that we had a solution that would make a significant impact in the data center space.

What On-Board Optics Means for Density and Flexibility

This past week I read an article in Lightwave Magazine and another in Network World about the formation of the Consortium for On-board Optics (COBO), a group that seeks to create specifications and increase the faceplate density of data center switches and adapters.

Scaling Hyperscale in an Age of Exponential Growth and Virtualization

Over the past several years server, network, storage and application virtualization has revolutionized the way hyperscale data centers are built by consolidating workloads. The trend has simplified network architecture significantly and resulted in huge cost savings as well.

Video Showcase