-Acquisition brings increased fiber capabilities, hyperscale data
center presence-
HICKORY, N.C.--(BUSINESS WIRE)--
CommScope, a global leader in infrastructure solutions for
communications networks, has agreed to acquire Cable Exchange, a
privately held quick-turn supplier of fiber optic and copper assemblies
for data, voice and video communications.
Cable
Exchange, headquartered in Santa Ana, Calif., manufactures a variety
of fiber optic and copper cables, trunks and related products used in
high-capacity data centers and other business enterprise applications.
The company, founded in 1986, specializes in quick-turn delivery of
its infrastructure products to customers from its two U.S. manufacturing
centers located in Santa Ana, Calif. and Pineville, N.C.
This highly complementary acquisition will deepen CommScope's
capabilities in supporting the growing market for high-capacity,
multi-tenant data centers and hyperscale data
centers operated by the world's largest technology and retail
companies. As more user-driven information and commerce flows through
networks, operators are quickly deploying larger and more complex data
centers to support growth in traffic and transactions.
"We are pleased to further expand our capabilities in the data center
market with Cable Exchange, a trusted and respected provider of critical
network infrastructure with strong customer relationships," said
CommScope President and Chief Executive Officer Eddie Edwards. "Further,
we believe the people, products and performance of Cable Exchange are a
great match for CommScope.
"While the overall business environment remains challenging, we believe
Cable Exchange's leadership in the attractive quick-turn industry will
complement our efforts in addressing this important market opportunity,"
Edwards added.
The leadership team and employees of Cable Exchange will join CommScope
upon completion of the transaction. Cable Exchange will operate as a
stand-alone business within CommScope's Connectivity Solutions segment.
"We are thrilled to partner with an industry leader like CommScope,"
said Cable Exchange President Joey Hynes. "We look forward to building
upon our teams' capabilities to serve the growing data center market."
The acquisition is expected to be completed within the next 60 days,
subject to customary closing conditions, including receipt of regulatory
approvals. CommScope intends to fund the acquisition with cash on hand.
Additional terms of the deal were not disclosed.
About CommScope:
CommScope
(NASDAQ: COMM) helps companies around the world design, build and manage
their wired and wireless networks. Our vast portfolio of network
infrastructure includes some of the world's most robust and innovative
wireless and fiber optic solutions. Our talented and experienced global
team is driven to help customers increase bandwidth; maximize existing
capacity; improve network performance and availability; increase energy
efficiency; and simplify technology migration. You will find our
solutions in the largest buildings, venues and outdoor spaces; in data
centers and buildings of all shapes, sizes and complexity; at wireless
cell sites; in telecom central offices and cable headends; in FTTx
deployments; and in airports, trains, and tunnels. Vital networks around
the world run on CommScope solutions.
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This press release includes forward-looking statements that are based on
information currently available to management, management's beliefs, as
well as on a number of assumptions concerning future events.
Forward-looking statements are not a guarantee of performance and are
subject to a number of uncertainties and other factors, which could
cause the actual results to differ materially from those currently
expected. Factors that could cause actual results to differ materially
from those in the forward-looking statements include the risk that
CommScope may fail to realize anticipated benefits of the acquisition or
that such benefits may take longer to realize than expected; challenges
and uncertainties affecting the telecommunications industry; the
potential impact of announcement or consummation of the proposed
acquisition on relationships with third parties, including customers,
employees and competitors; and the ability to attract new customers and
retain existing customers in the manner anticipated. You should
carefully consider the foregoing factors and the other risks and
uncertainties that affect the businesses of CommScope, including those
described in CommScope's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q, Current Reports on Form 8-K and other documents filed from
time to time with the Securities and Exchange Commission. In providing
forward-looking statements, the company does not intend, and is not
undertaking any obligation or duty, to update these statements as a
result of new information, future events or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170712005287/en/
CommScope
News Media Contact:
Jessica Olstad
+1
952-403-8142 or publicrelations@commscope.com
or
Financial
Contact:
Jennifer Crawford
+1 828-323-4970
Source: CommScope
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