Belden Buys PerfectPath Parent for Over $500 Million

Bloomberg is reporting that Belden, Inc., one of the world’s largest manufacturers of cable, has acquired PPC, parent company of PerfectPath wire for $515.7 million.

Terms of the complete deal aren’t being disclosed, but PPC is a 65-year old company that claims to have wired over 100 million homes in the US is known in the HomeAV market most recently for their PerfectPath line of HDMI wire.

According to Bloomberg, PPC had sales of $238 million in fiscal 2012 and were profitable. Belden expects 2012 calendar-year sales to be nearly $2 Billion.

Here’s the entire story: http://www.bloomberg.com/news/2012-12-11/belden-buys-ppc-for-515-7-million.html