Emerson agreed to sell its Connectivity Solutions business unit to Bel Fuse for $98 million.
Currently a part of Emerson’s Network Power business, with 2013 revenue of more than $80 million, the Connectivity Solutions business offers fiber optic, radio-frequency and microwave-coaxial technologies that safeguard network reliability. Its brands include Stratos optical technologies, Johnson, Trompeter, Midwest Microwave, Semflex, Vitelec Electronics, AIM Electronics and Cambridge Products. The business unit is based in Bannockburn, Illinois.
“Although the business no longer aligns with our long term strategy to strengthen our core global franchises, it offers Bel attractive growth opportunities and is consistent with its strategic direction,” said Jamie Froedge, Emerson’s Vice President, Acquisitions and Development. “We will work closely to ensure a smooth transition for customers and employees.”
Dan Bernstein, Bel’s president, said, “This is Bel’s third major acquisition in the past 14 months; all together, these acquisitions will increase our revenue from $283 million, pre-acquisition, to approximately $705 million annually. We are proud that Emerson Inc, ABB Ltd. and TE Connectivity Ltd., have determined in the best interest of their shareholders, customers and employees to entrust these businesses to Bel and we look forward to growing these organizations.”
