Summary
Amphenol Corporation (APH) announced the completion of its acquisition of Teradyne's backplane and connection systems business segment (TCS) on December 1, 2005. The acquisition, valued at approximately $390 million in cash, subject to post-closing adjustments, significantly expands Amphenol's operations within the connector industry. This strategic move is expected to enhance the company's market position and product offerings. The financing for this substantial acquisition was primarily secured through borrowings of $380 million under Amphenol's expanded $1 billion unsecured five-year revolving credit facility. This demonstrates Amphenol's ability to leverage its financial resources to pursue growth opportunities. Investors should monitor future filings for details on the integration of TCS and its impact on Amphenol's financial performance and revenue streams.
Key Highlights
- 1Completion of the acquisition of Teradyne's backplane and connection systems business (TCS) for $390 million in cash on December 1, 2005.
- 2The acquisition includes substantially all assets and certain liabilities of Teradyne's TCS segment, as well as stock of its operating subsidiaries.
- 3Financing for the acquisition was primarily secured through $380 million in borrowings under Amphenol's unsecured five-year revolving credit facility.
- 4Amphenol recently increased its revolving credit facility capacity by $250 million, bringing the total facility to $1 billion.
- 5The acquisition is expected to enhance Amphenol's market position and product portfolio in the connector industry.
- 6Financial statements and pro forma information related to the acquired business will be filed in a subsequent amendment to this 8-K filing.