CommScope to sell wireless networks, antenna systems units to Amphenol for $2.1 bln (updated)

Vistance Networks

18/07/2024 14:22

(Adds shares in paragraph 2, details in paragraphs 3, 4)
       July 18 (Reuters) - CommScope  COMM.O  said on Thursday
it would sell its outdoor wireless network segment and its
distributed antenna systems business to Amphenol  APH.N  for
$2.1 billion in cash.
    Shares of CommScope jumped 41% in premarket trading, while
Amphenol rose 1.2%.
    CommScope's wireless network provides infrastructure for
mobile networks, while its antenna systems unit provides
services for cellular infrastructure inside venues, campuses and
enterprises. 
    Amphenol expects to finance the acquisition through a
combination of cash on hand and debt. The deal is expected to
close within the first half of 2025. 
    

 (Reporting by Zaheer Kachwala in Bengaluru; Editing by Shilpi
Majumdar)
 ((Zaheer.Kachwala@thomsonreuters.com;))