CommScope Completes TE Connectivity Deal

CommScope (NASDAQ:COMM) has completed its previously announced acquisition of TE Connectivity's (NYSE:TEL) Telecom, Enterprise and Wireless businesses. The all-cash transaction, valued at approximately $3 billion, is intended to strengthen CommScope's position in four major areas:

• Indoor and outdoor wireless networks
• Data centers and central offices
• Connected and efficient buildings
• Access and backhaul networks

The new CommScope has approximately 25,000 employees, with a more significant presence in all major geographic regions. The company now holds a portfolio of approximately 9,800 patents and patent applications, with research and development investment of more than $200 million a year.

For the near term, the newly acquired TE Connectivity Broadband Network Solutions (BNS) businesses will be operated as one of CommScope's business segments, alongside of the existing CommScope segments of Wireless, Enterprise and Broadband.