CommScope acquires TE Connectivity unit for $3 Billion

CommScope acquires TE Connectivity unit for $3 Billion

CommScope acquires TE Connectivity unit for $3 Billion

Telecommunications equipment maker CommScope agrees to buy TE Connetivity unit for $3 Billion in cash deal.

 Commscope shares increased about 9 percent on Wednesday trading, totalling market capitalization of $5.2 Billion. TE Connectivity shares rose 7 percent, for market cap $ 28.1 Billion.

 “Any time you want to talk or communicate,” Marvin S. Edwards Jr., CommScope’s chief executive, said in an interview, “we provide the solutions and products to enable that to happen.”

The deal directs on infrastructure, which helps mobile devices and constant connectivity.

 CommScope expect to close the deal by the end of 2015 and  use up to 3 billion of debt to finance the transaction.

 CommScope Financial advisors are Allen & Company, Bank of America, JP Morgan Chase and Deutsche Bank, while Latham & Watkins; Baker & McKenzie and Jones Day are its legal advisors.

 Goldman Sachs, Citigroup and Centerview Partners are the financial advisors for TE Connectivity, while Allen & Overy; Simpson Thacher & Bartlett and Sutherland Asbill

 Mr. Stakebay says:

 CommScope is expected at least $150 million in annual savings during three years. TE Connectivity would allow it to focus on its business of sensor technologies and helps to increase their networks, products for data centers as good as expanding in Asia, Europe and the Middle East.

 

Chairman and CEO of TE Connectivity ……..Tom Lynch……… (2006-present)….$ 10 473 028 (2013)

President and CEO of Commscope…… Marvin S. Edwards, Jr….(2010-present)..$ 4 834 925 (2013)

 

 

COMMSCOPE

TE CONNECTIVITY

Revenue

$3.48 Billion (2013)

$ 13.28  billion (2013)

Operating income

 $ 329.714 Million (2013)

$ 1.56 billion (2013)

Profit

$ 19.396 Million (2013)

$ 1.276 billion (2013)

Total assets

$ 4.734 Billion (2013)

$ 18.46 billion (2013)

Total Equity

$ 1.088 Billion (2013)

$ 8.38 billion (2013)

Employees

13 000 (2013)

100 000 (2013)

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