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Electronics Production | April 27, 2010

Sanmina-SCI acquires BreconRidge

Sanmina-SCI has executed a definitive agreement to acquire BreconRidge Corporation, a design, engineering and manufacturing services provider for RF/microwave and micro/opto-electronic products.

The company is focussed on the networking/communications, medical, industrial, aerospace and defense markets. As part of the transaction, Sanmina-SCI will take on design and engineering team as well as manufacturing operations in Canada and China. The agreement is subject to certain customary closing conditions and is expected to close in approximately 30 days. The purchase price will be up to $53 million including equity and assumption of certain liabilities, and is subject to post closing adjustments. BreconRidge's revenue run rate is approximately $45 million per quarter. The Company expects revenue to be in the range of $250 to $300 million per year over the next twelve months with the increase in technology and service offerings. The transaction is expected to be accretive to earnings per share on a non-GAAP basis within the first year. "This acquisition strengthens both our position and our customer base in RF/microwave and micro/opto-electronic technologies. We are excited to work with BreconRidge's great customers and look forward to continuing to provide them with enhanced design, engineering and manufacturing capabilities. Upon completion of this transaction, Sanmina-SCI will be the leading electronics manufacturing services provider for these rapidly expanding leading-edge technologies," stated Sola.
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