DeWITT — PPC, a DeWitt–based developer and manufacturer of connectors used in telecommunications applications, has been acquired by Belden, Inc. (NYSE: BDC) in a deal worth $515.7 million.
PPC has been in business for more than 65 years. The company will have 2012 revenue of about $238 million, according to a news release from Belden.
“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,” Belden President and CEO John Stroup said in the release. “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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A Belden spokesman said today it is too early to speculate on whether any layoffs could result from the acquisition. There are no immediate plans for any changes at the PPC site, which will remain open.
PPC employs 774 people.
Belden, based in St. Louis, designs and manufactures connectivity technology for the industrial, enterprise, and broadcast markets. The company has 7,400 employees and manufacturing sites in North America, South America, Europe, and Asia.
Belden has been in business since 1902. The company generated revenue of $1.98 billion in 2011, up 23 percent from 2010, and earned $114.3 million, up from $108.5 million.
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