Bel Agrees to Acquire TE Connectivity's Transpower Magnetic Business
"This acquisition, Bel's fourth in the past five months, advances our
strategy to position the Company for long term growth and profitability.
Included in our purchase of the Transpower business are the ICM
(integrated connector modules) family of products, including RJ45,
10/100 Gigabit, 10G, PoE/PoE+, MRJ21, RJ.5, a line of modules for
smart-grid applications and discrete magnetics. Bel will also receive a
license to produce ICM products using TE's planar embedded magnetics
"We believe the acquisition of the Transpower business solidifies our position as the world-wide leader for ICM's. The combination of the two businesses will create an exceptional portfolio of products and enhance Bel's leadership in the deployment of next generation ICM's," Bernstein said.
Bernstein added, "By selecting Bel as the acquiring company, TE
demonstrates its confidence that Bel will provide the same high level of
service to customers that continue to purchase from both our companies.
Demonstrating our commitment to this goal, Bel will retain the
Bel (www.belfuse.com) and its divisions are primarily engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. Products include magnetics (discrete components, power transformers and MagJack® connectors with integrated magnetics), modules (DC-DC converters, integrated analog front-end modules and custom designs), circuit protection (miniature, micro and surface mount fuses) and interconnect devices (micro, circular and filtered D-Sub connectors, passive jacks, plugs and high-speed cable assemblies). The Company operates facilities around the world.
Except for historical information contained in this press release,
the matters discussed in this press release (including the statements
regarding the impact of the acquisition on earnings and on the Company's
business and regarding growth opportunities) are forward looking
statements that involve risks and uncertainties. Among the
factors that could cause actual results to differ materially from such
statements are: the market concerns facing our customers; the continuing
viability of sectors that rely on our products; the effects of business
and economic conditions; capacity and supply constraints or
difficulties; product development, commercializing or technological
difficulties; the regulatory and trade environment; risks associated
with foreign currencies; uncertainties associated with legal
proceedings; the market's acceptance of the Company's new products and
competitive responses to those new products; the Company's ability to
integrate newly acquired businesses; and the risk factors detailed from
time to time in the Company's
President & CEO
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