TE Connectivity Announces Definitive Agreement to Sell Its Broadband Network Solutions Business to CommScope
TE Connectivity Announces Definitive Agreement to Sell Its Broadband Network Solutions Business to CommScope for $3.0 Billion.
Increases Revenue from Connectivity and Sensor Solutions to 90 Percent.
Advances Strategy to Focus and Expand Position in Harsh Environment Connectivity
SCHAFFHAUSEN, Switzerland, Jan. 28, 2015
TE Connectivity announced today that it has entered a definitive agreement to sell its Broadband Network Solutions business to CommScope, a global network infrastructure provider. The announcement can be found here.
TE’s broadband solutions, coupled with CommScope’s portfolio of products, represents a powerful combination of technology and innovation for the communications market – where both companies have a rich tradition of excellence. This will enable CommScope to deliver an even broader set of products across Broadband, Enterprise and Wireless – helping continue to drive down total cost of ownership while increasing reliability and speed of deployment.
The transaction is expected to close by December 31, 2015. During the interim period, both TE and CommScope are deeply committed to ensuring that your service levels are not impacted in any way. There will be no changes in your sales or customer service contacts, and both companies will strive to make this a positive experience during the transition.