TE Connectivity (TEL) Tops Q1 EPS by 8c

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Go back to TE Connectivity (TEL) Tops Q1 EPS by 8c

TE Connectivity (TEL) Will Sell BNS Unit to CommScope (COMM) in $3B Deal

January 28, 2015 6:03 AM EST

TE Connectivity (NYSE: TEL) has reached a definitive agreement to sell its Broadband Network Solutions (BNS) business unit to CommScope (Nasdaq: COMM) for $3.0 billion. The BNS business, which consists of TE's Telecommunications, Enterprise Networks and Wireless businesses, had revenue of $1.9 billion in fiscal year 2014. CommScope is a global provider of telecommunications infrastructure solutions for wireless, business enterprise and residential broadband networks.

"Our decision to sell our BNS business reflects our strategy to continue focusing on and expanding our leadership position in the attractive connectivity and sensor markets, with... More