ADC, Andrew announce $2B merger

In a deal that will position them in the converged market, wireline infrastructure provider ADC Telecommunications and wireless infrastructure player Andrew will merge in a $2 billion share deal. Both companies specialize in the components needed for wide-area networks. ADC provides products such as copper and fiber connectivity components, cross connects and Ethernet access equipment, while Andrews sells base-station systems, antennas and RF amplifier systems.

The companies said the combined annual sales for the new group would be about $3.3 billion, and they would achieve pre-tax earnings synergies of between $70 million and $80 million by the third year if the deal succeeds. ADC will own 56 percent of the combined company with Andrew shareholders getting 0.57 shares of ADC for each of their shares. ADC will assume all debt of Andrew and Andrew's convertible notes will become convertible into ADC shares.

To read more about the merger between ADC and Andrew:
- take a look at this article from EE Times
- check out this release from ADC