Belden shares jump on PPC announcement

Dec 11, 2012 (St. Louis Post-Dispatch - McClatchy-Tribune Information Services via COMTEX) -- Updated at 5 p.m. with details, closing share price.

Shares of Belden Inc. rose 6.5 percent Tuesday after the Clayton-based maker of cable, connectivity and networking products announced it bought PPC for $515.7 million.

The acquisition of PPC, based in Syracuse, N.Y., expands Belden's line of broadband products.

PPC makes broadband connectivity products for cable television, telecommunications and Internet service customers. The privately held company, with 774 employees, is expected to post $238 million in revenue in 2012.

"PPC provides innovative products that enable our customers to profitably grow their business by delivering higher bandwidth and enhanced services, with fewer service calls," John Stroup, Belden's chief executive, said in a statement.

A Belden spokesman said the company has formed an integration team to merge operations.

Belden said it expects its 2012 revenue to reach between $1.94 billion and $1.95 billion. About 40 people in Clayton are among Belden's 7,400 employees worldwide.

The company has been a buyer and a seller this year.

Last month, Belden reached agreement to sell its Thermax and Raydex businesses to Charlotte, N.C.-based Carlisle Cos. for $265 million.

After the Thermax-Raydex sale, analyst Shawn Harrison of Longbow Research wrote that the deal added to Belden's "significant dry powder" and provided the company with money to make additional purchases in the networking and connectivity markets.

In June, Belden announced its acquisition of Miranda Technologies Inc., of Montreal, a provider of hardware and software for the broadcast infrastructure industry.

Belden's takeover offer represented about 370 million Canadian dollars, or about $360 million in U.S. currency, according to Bloomberg.

Shares of Belden closed Tuesday at $42.27, up $2.57.

___ (c)2012 the St. Louis Post-Dispatch Visit the St. Louis Post-Dispatch at www.stltoday.com Distributed by MCT Information Services

[ Back To Contact Center Solutions Homepage's Homepage ]

Related Contact Center Solutions Articles

MetricNet Publishes 4 New Australian Benchmarks for IT Support, Contact Centres
[ Read More ]
05/21/2013

Liverpool Bosch Contact Center Hopes for Threefold Expansion by Year End
[ Read More ]
05/03/2013

Bunchball Unveils Augmented Gamification Tools for Jive Platform
[ Read More ]
04/08/2013

Teleperformance Earns the Multimedia Contact Center Award
[ Read More ]
03/19/2013

Shangri-La Unveils Customer Contact Center in China
[ Read More ]
03/13/2013

B. Braun Uses NextiraOne for UC and Contact Center Support
[ Read More ]
03/12/2013

Contact Centre Australia Generates Job Growth in Wellington, New Zealand
[ Read More ]
03/04/2013

[ View all Contact Center Solutions Articles ]

Contact Center Solutions Glossary of Terms

A B C D E F G H I J K L M N O

Featured Whitepaper

Microsoft® Lync® in the Contact Center: Integrating with Customer Interaction Center™ to Provide a Barrierâ€free Customer Experience To implement contact center functionality, organizations using Microsoft Lync Server 2010 can follow the unified communications blueprint of open standards interoperability and integrate to a contact center solution of their choice. Customer Interaction Center (CIC) from Interactive Intelligence is a proven best of breed contact center solution that merits consideration ...

Featured Success Story

Interactive Intelligence all-in-one IP communications software suite integrated with Microsoft Lync helps Bentley save $200,000 annually.

Featured Product Demo

Contact Center Solutions Interaction Analyzer™

Interaction Analyzer™
Real-time word and phrase spotting. Alerting. Analytics. Scoring. Coaching. Watch how Interaction Analyzer turns every moment, of every past and present call, into data that lets you deliver an exceptional customer experience.