Belden Inc. (NYSE: BDC) has entered into a definitive agreement to acquire privately held OTN Systems N.V., a leading provider of automation networking infrastructure solutions, for approximately $71 million, net of cash acquired. The transaction is expected to close in the first quarter 2021, subject to customary closing conditions, and will be financed with cash on hand, which was approximately $500 million at the end of 2020. Separately, the Company increased its revenue and EPS guidance for the fourth quarter 2020.
"We are extremely excited to welcome the talented OTN Systems team to the Belden family," said Roel Vestjens, President and CEO of Belden. "The business is uniquely well-positioned for success given its numerous market growth drivers and portfolio of innovative networking products and technologies. This is a very compelling acquisition for Belden that provides additional opportunities for profitable growth in our Industrial Solutions business."
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