CommScope has completed the acquisition of TE Connectivity’s telecom, enterprise and wireless businesses for $3 billion.
Following the cash transaction, it is expected that CommScope will focus on four major areas:
# Indoor and outdoor wireless networks
# Data centers and central offices
# Connected and efficient buildings
# Access and backhaul networks
“We will accelerate industry innovation, solve more wired and wireless network challenges, and better serve customers in more markets around the world. By uniting our solutions, technologies and geographic and market coverage, we have created a stronger platform for competing around the world,” said Eddie Edwards, president and chief executive officer of CommScope.
CommScope expects to realize more than $150 million in annual synergies in 2018, which includes more than $50 million in 2016.
The transaction is expected to be in excess of 20 percent accretive in 2016 on a pro forma basis.
The new CommScope has approximately 25,000 employees, with a more significant presence in all major geographic regions.
Net sales for the 12-month period ended June 30, 2015 were approximately $5.3 billion and EBITDA was approximately $1 billion.
The company holds nearly 9,800 patents and patent applications, with research and development investment of more than $200 million a year.