OTN Systems complements network division

Belden

Meinrad Happacher | Meinrad Happacher, 03.02.2021, 11:45

OTN Systems complements network division

Belden has now reached an agreement with OTN Systems to acquire the company. Belden is paying USD 71 million for the company and the transaction is expected to be completed in the first quarter of the year.

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Roel Vestjens, President and CEO of Belden: "This is a very promising acquisition for Belden, offering additional opportunities for profitable growth in our Industrial Solutions business."

Privately held OTN Systems N.V., headquartered in Olen, Belgium, is a provider of network solutions tailored to specific applications in harsh, mission-critical environments. OTN Systems' technology enables customers to build, maintain and monitor complex networks in industrial markets such as the process industry, power transmission and public transportation. Belden and OTN Systems had already entered into a commercial partnership in 2017.

The acquisition is expected to support one of Belden's key strategic priorities related to the growing demand for industrial automation by adding proprietary technology and mission-critical hardware and software products for more comprehensive end-to-end solutions. Belden is targeting additional sales of $35 million to $40 million in the first full year following the acquisition.

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