Amphenol To Buy CommScope's Mobile Network Businesses For $2.1 Bln In Cash

(RTTNews) - Amphenol Corp. (APH), a maker of electronic and fiber optic connectors, announced on Thursday that it has inked a deal to acquire mobile networks businesses of CommScope Holding Co., Inc. (COMM) for $2.1 billion in cash. Amphenol expects to finance the acquisition, to be closed in the first-half of 2025, through a combination of cash on hand and debt.

The transaction is expected to be accretive to its income per share in the first full year after closing, excluding acquisition-related costs.

Adam Norwitt, CEO of Amphenol, said: "We are excited by the prospect of adding CommScope's mobile networks businesses and their approximately 4,000 talented employees to the Amphenol family. This acquisition further supports Amphenol's long-term growth and balanced end market exposure across all areas of the electronics market."

Amphenol will buy CommScope's Outdoor Wireless Networks or OWN segment as well as the Distributed Antenna Systems or DAS business, which resides in CommScope's Networking, Intelligent Cellular and Security Solutions or NICS segment.

These combined businesses are expected to register full-year 2024 sales and EBITDA margins of around $1.2 billion and 25 percent, respectively.