GEC NEWS WIRETo Acquire TE Connectivity’s Telecom, Enterprise and Wireless Businesses
Holding has agreed to acquire TE Connectivity’s Telecom, Enterprise and Wireless businesses in an all-cash transaction valued at approximately $3 billion. Eddie Edwards, CommScope president and CEO believes this to be an important and transformative acquisition for CommScope, bringing together complementary geographic and customer coverage, products and technologies. “This transaction has many clear strategic and financial benefits for all of our stakeholders. It creates enhanced scale with a combined, diversified portfolio that we believe is well-positioned to take advantage of opportunities in the marketplace”.
Tom Lynch, TE Connectivity chairman and CEO looks forward to working closely with the Comm Scope management team to close the transaction. “CommScope is a proven industry leader, and we believe it is the right company to lead our Telecom, Enterprise and Wireless businesses forward.”
Upon completion of the transaction, Mr. Edwards, along with other members of the CommScope executive management team, will continue to lead the company.
