November 26, 2010 (FinancialWire) (http://www.financialwire.net/) — Belden, Inc. (BDC) said it has entered into a definitive agreement to acquire GarrettCom, a provider of industrial networking products and smart grid solutions.

According to Belden, the acquisition extends its position as an industrial networking solutions provider by adding a recognized leader in industrial grade switches, routers, converters, serial communications, and security software.

The company said that GarrettCom's hardened networking products complements Belden's existing portfolio of Hirschmann brand high-availability industrial networking solutions and will enable Belden to address the growing needs of customers across a more diverse set of end market applications. GarrettCom sells its products into power utilities, surveillance and security, transportation, specialty industrial automation, telecommunications, and similar demanding harsh-environment verticals through a network of system integrators, OEMs, and international distributors.

Belden said it will fund the purchase price with cash on hand and expects the acquisition to be completed by calendar year-end 2010. Belden expects the business will be break-even on a GAAP basis in fiscal year 2011.  

Missouri-based Belden designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics.

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