| |
Press Release
Acquisition of Connection Systems
Division of Teradyne, Inc. Reported by Amphenol Corporation
WALLINGFORD, Conn.--(BUSINESS WIRE)--Dec.
1, 2005--Amphenol Corporation (NYSE-APH) announced today that
it has completed the acquisition of the Connection Systems division
of Teradyne, Inc. (NYSE-TER) for approximately $390 million
in cash (subject to a post closing working capital adjustment).
The acquisition agreement was previously announced in an October
10, 2005 press release and conference call. The transaction
was financed through borrowings under the Company's revolving
credit facilities.
Amphenol TCS (TCS), headquartered in Nashua,
New Hampshire, is a leading supplier of high-speed, high-density,
printed circuit board interconnect products. TCS sells its
products primarily to the data communications, storage and
server markets, wireless infrastructure markets and industrial
markets. TCS has facilities in North America, Europe and Asia
and employs approximately 2,250 people worldwide.
Amphenol Chairman and CEO, Martin H. Loeffler,
stated: "We are excited about adding the wealth of experience
and leading technology of TCS to Amphenol, and look forward
to the many new opportunities created by the complementary
strengths of Amphenol and TCS."
TCS will be included in Amphenol's consolidated
results beginning in December of 2005; as such TCS is not
expected to have a material impact on 2005 results. The Company
plans to issue guidance for 2006 at its scheduled fourth quarter
earnings release and conference call on January 18, 2006.
Consistent with the Company's strategy and assuming a continuation
of current economic conditions, the TCS acquisition is expected
to be accretive to earnings per share in the first year post
acquisition.
Amphenol Corporation is one of the world's
leading producers of electronic and fiber optic connectors,
cable and interconnect systems. Amphenol products are engineered
and manufactured in the Americas, Europe and Asia and sold
by a worldwide sales and marketing organization. The primary
end markets for the Company's products are communication systems
for the converging technologies of voice, video and data communications,
industrial/automotive and military/aerospace applications.
Statements in this press release which are
other than historical facts are intended to be "forward-looking
statements" within the meaning of the Securities Exchange
Act of 1934, the Private Securities Litigation Reform Act
of 1995 and other related laws. While the Company believes
such statements are reasonable, the actual results and effects
could differ materially from those currently anticipated.
Please refer to Part I, Item 1 of the Company's Form 10-K
for the year ended December 31, 2004, for some factors that
could cause the actual results to differ from estimates. In
providing forward-looking statements, the Company is not undertaking
any duty or obligation to update these statements publicly
as a result of new information, future events or otherwise.
Amphenol Corporation Contact:
Diana G. Reardon,
Tel: 203.265.8630
Amphenol TCS Media Contact:
Catherine Palmer
Teradyne Connection Systems
Tel: 603.879.3600
|
|
