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© edhar yralaits dreamstime.com PCB | September 22, 2014

TTM Technologies to acquire Viasystems Group

TTM Technologies and Viasystems Group, has executed a definitive agreement under which TTM will acquire all outstanding shares of Viasystems for approximately USD 368 million.
The total enterprise value of the transaction, including the assumption of debt, is approximately USD 927 million.

The combined company will have approximately 30,000 employees and 28 manufacturing facilities worldwide.

“Both TTM and Viasystems have pursued successful strategies over the years, and we are excited to bring these two companies together,” said Tom Edman, CEO of TTM. “This combination creates an industry leader with the ability to deliver expanded capabilities from a broad global footprint to service more customers and end markets. In one step, we will accelerate our strategy to diversify our business and also reduce the impact of seasonality inherent in the cellular phone end market. We believe that the combination will result in significant synergies created by expanded capabilities and economies of scale that will benefit the customers, employees and shareholders of both companies.”

“This is a compelling strategic combination that makes for an exciting new chapter for Viasystems,” said David M. Sindelar, CEO of Viasystems. “The combination of these two companies will create one of the best management teams in the industry. I believe this combination is an excellent opportunity to realize value for our shareholders and creates new opportunities for our customers and employees.”
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November 20 2018 6:51 pm V11.9.5-2