CATAWBA COUNTY, N.C. — Claremont-based CommScope announced it will sell its connectivity and cable solutions segment to Connecticut-based Amphenol for $10.5 billion.
The sale, announced in a press release, is expected to provide CommScope with significant excess cash after repaying debt and redeeming some preferred investments.
Amphenol, known for its high-technology interconnect, sensor, and antenna solutions, will expand its portfolio with the acquisition of CommScope’s segment.
CommScope plans to add “modest leverage” on its remaining business after the transaction, the Hickory Daily Record reports.
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