Acquired Electronics360

Distribution

Board Maker TTM to Acquire Viasystems

23 September 2014

Printed circuit board manufacturer TTM Technologies Inc. will acquire Viasystems Group in a deal worth $997 million.

Under the definitive agreement, TTM will acquire all outstanding shares of Viasystems for a combined consideration of $11.33 in cash and 0.706 shares of TTM common stock, based on the closing Sept. 19 market price of $16.46 per Viasystems share, or approximately $368 million. The total value of the transaction, including the assumption of debt, is approximately $927 million.

The combined company will be one of the world's leading printed circuit board manufacturers with a strong position in the automotive, aerospace and defense, medical, industrial and instrumentation, cellular phone and networking/telecom end markets. It will have approximately 30,000 employees and 28 manufacturing facilities worldwide.

Tom Edman, CEO of the Santa Ana, Ca.-based TTM, said "the combined companies will have “expanded capabilities from a broad global footprint to service more customers and end markets. He added that the acquisition will allow TTM to diversify its business and “reduce the impact of seasonality inherent in the cellular phone end market.”

David M. Sindelar, CEO of Viasystems, said the combination of the companies was an excellent opportunity to realize value for our shareholders and “creates newopportunities for our customers and employees."

The acquisition of Viasystems, based in St. Louis, Missouri, is expected to help TTM accelerate its entry into the automotive industry and expand its presence in the medical, industrial and instrumentation, and aerospace and defense segments. It will also increase TTM's customer and end market diversity, positioning the combined company for long-term growth, according to the board manufacturer.

The transaction is subject to regulatory approvals and approval by the shareholders of Viasystems. The transaction is expected to close in the first half of 2015.

Related links:

www.ttmtechnologies.com

News articles:

Cadence's Rowen Forecasts Processor Design Split

Ericsson Shuts Down Modem Group

Microsemi Ships 22nm FinFET ASICs

Why UMC is Boosting Automotive Chip Business

New Spin-charge Converter for Spintronics



Powered by CR4, the Engineering Community

Discussion – 0 comments

By posting a comment you confirm that you have read and accept our Posting Rules and Terms of Use.
Engineering Newsletter Signup
Get the Engineering360
Stay up to date on:
Features the top stories, latest news, charts, insights and more on the end-to-end electronics value chain.
Advertisement
Weekly Newsletter
Get news, research, and analysis
on the Electronics industry in your
inbox every week - for FREE
Sign up for our FREE eNewsletter
Advertisement

CALENDAR OF EVENTS

Date Event Location
30 Nov-01 Dec 2017 Helsinki, Finland
23-27 Apr 2018 Oklahoma City, Oklahoma
18-22 Jun 2018 Honolulu, Hawaii
Find Free Electronics Datasheets
Advertisement