June 07, 2012

Belden to acquire Miranda Technologies

Belden enters into a definitive agreement to acquire Miranda Technologies for CAD 17.00 per share. This represents an enterprise value of approximately CAD 345 million.

“This acquisition is another step in the ongoing transformation taking place at Belden,” said John Stroup, President and CEO of Belden. “We believe that the combined company would be a leader in one of Belden’s target market segments and would deliver considerable value for Belden customers and shareholders, as well as provide growth opportunities to Miranda employees. As Hirschmann significantly enhanced our industrial portfolio, we expect Miranda to have a similar impact on our broadcast business. I’m excited about the opportunity ahead for us.”

“We’re pleased to be a part of the transformation taking place at Belden,” said Strath Goodship, President and CEO of Miranda Technologies. “Belden has a strong portfolio of successful businesses, proven experience with many of our broadcast customers, and solid reputation in Canada and Montreal. Our combined efforts will deliver value for all parties involved. This agreement has the full support of Miranda’s management team.”

Belden has no plans for any changes to Miranda’s existing operations, including its Montreal base.
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