Dec 11 Cable maker Belden Inc said it
bought privately held PPC, which makes connectors used in
broadband and wireless services, for $515.7 million to
strengthen its position in the broadcast industry.
Belden, which makes networking products for the broadcast
and consumer electronics industries, has been buying connector
companies that complement its cable offerings in these markets
as it moves away from selling stand-alone cables.
The company bought Canadian Miranda Technologies Inc, a
maker of cable-TV and networking products, for about $362
million in July.
Belden's shares have gained more than a quarter since it
offered to buy smaller rival RuggedCom Inc in December 2011 to
beef up its networking business. They closed at $39.70 on the
New York Stock Exchange on Monday.
RuggedCom was eventually bought by Siemens
earlier this year.
Syracuse, New York-based PPC - a division of John
Mezzalingua Associates Inc - had revenue of about $238 million
Belden said it expects the deal to add 54 cents per share to
its 2013 earnings.