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Amphenol Corporation to Acquire Mobile Networks Businesses From CommScope
July 18, 2024 | Amphenol CorporationEstimated reading time: 1 minute
Amphenol Corporation announced a definitive agreement to acquire CommScope’s mobile networks businesses for $2.1 billion in cash, subject to customary post-closing adjustments. The deal includes the purchase of CommScope’s Outdoor Wireless Networks (OWN) segment as well as the Distributed Antenna Systems (DAS) business which resides in CommScope’s Networking, Intelligent Cellular and Security Solutions (NICS) segment. These combined businesses are currently expected to have full-year 2024 sales and EBITDA margins of approximately $1.2 billion and 25%, respectively. Assuming a continuation of current economic conditions, the acquisition is expected to be accretive to Amphenol’s Diluted Earnings Per Share in the first full year after closing, excluding acquisition-related costs.
“We are excited by the prospect of adding CommScope’s mobile networks businesses and their approximately 4,000 talented employees to the Amphenol family,” said Amphenol President and Chief Executive Officer, R. Adam Norwitt. “CommScope provides mobile networks solutions, with advanced technologies in the areas of base station antennas and related interconnect solutions, as well as distributed antenna systems. In particular, we are encouraged that the businesses we are acquiring make up the former Andrew Corporation portfolio of products, a company with a rich history of innovation and technology leadership in the wireless industry. We look forward to supporting customers who are developing next-generation wireless networks around the world with these advanced solutions as well as our own existing complementary products. Finally, this acquisition further supports Amphenol’s long-term growth and balanced end market exposure across all areas of the electronics market.”
Amphenol expects to finance the acquisition through a combination of cash on hand and debt. Subject to the receipt of customary regulatory approvals and other closing conditions, the deal is expected to close in the first half of 2025.
Amphenol looks forward to discussing the acquisition when the Company reports second quarter 2024 earnings on July 24, 2024.
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