ADC and Andrew Corp. Merging
June 8, 2006
Telecommunications equipment company ADC and antenna, cable and wireless product manufacturer Andrew Corp. have announced they are going to merge. Andrew shareholders will receive 0.57 of an ADC share for each share of Andrew stock they own. Once the merger is complete, Andrew shareholders will be left with 44 percent of the combined company. ADC's Robert E. Switz will become CEO of the combined company.
Although Andrew sold its broadcast TV antenna business to ERI a few years ago, many broadcasters still look to Andrew for microwave antennas, elliptical waveguide, Heliax (an Andrew trademark), satellite antennas and other RF equipment.
"With accelerating globalization and consolidation among telecommunications service providers and communications equipment suppliers, now is the right time for ADC and Andrew to join forces and grow value as a world leader in network infrastructure solutions," said Ralph E. Faison, president and CEO of Andrew. "The synergies that we expect to create will enable us to better serve our converging customer base worldwide as their wireline and wireless networks deliver high-speed, any content, anywhere communications services."