Amphenol Corporation (NYSE:APH) today announced that it has acquired Halo Technology Limited for approximately $715 million.
Halo is headquartered in Tustin, California with operations in North America and Europe, and is a leading provider of active and passive fiber optic interconnect components for the communications infrastructure markets with expected 2021 sales of approximately $250 million.
“We are excited to welcome the entire Halo Technology team to the Amphenol family,” said R. Adam Norwitt, Amphenol’s President and CEO. “Halo’s product offerings are very complementary to our existing high-speed and fiber optic interconnect solutions and represent a significant long-term growth opportunity for Amphenol. In particular, Halo’s high-technology products strengthen our offering to IT and data communications, mobile networks and broadband customers, all of whom are upgrading their systems and networks to manage increased data traffic. We look forward to working closely with Halo’s experienced management team to deliver a broader range of interconnect solutions to our customers around the world.”
Consistent with the Company’s acquisition strategy, Amphenol expects the acquisition to be accretive to earnings per share in the first year post closing. Amphenol will provide further information on the acquisition on its next regularly scheduled earnings call.
Separately, Amphenol also announced the closing of the sale of the MTS Test & Simulation business to Illinois Tool Works Inc. (NYSE:ITW). Since the closing of the MTS Systems Corporation transaction earlier this year, Amphenol has reported the Test & Simulation business as a discontinued operation and therefore the closing of the sale will have no impact on Amphenol’s financial results from continuing operations or fourth quarter guidance.
