Belden to Acquire Tripwire, a Leader in Cybersecurity, for $710 Million
St. Louis, Missouri – Dec. 9, 2014 – Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission-critical applications, today announced it has signed a definitive agreement to acquire Tripwire for $710 million in cash. Tripwire, a leading global provider of advanced threat, security and compliance solutions, will bring an important element to Belden’s portfolio. Together, the companies will work to deliver the next generation of cybersecurity solutions that can be deployed across enterprise, industrial and broadcast markets.
“As a leading supplier of signal transmission solutions for mission-critical networking applications, this acquisition is an important and natural extension of Belden’s capabilities,” said John Stroup, President and CEO of Belden.
Tripwire, a leader in security and vulnerability management, enables enterprises, service providers, manufacturers and government agencies to confidently detect, prevent and respond to growing security threats. In September, Belden and Tripwire announced a joint initiative to improve critical infrastructure cybersecurity in manufacturing organizations. The partnership provided comprehensive cybersecurity solutions tailored to specific customer requirements.
“We look forward to incorporating Tripwire technology into selected Belden products and providing Tripwire with access to existing Belden customers that are anxious to improve the robustness and security of their networks,” adds Stroup. “This positions Belden as a leader in helping customers deploy and secure the ‘Internet of Things.’”
This transaction is instantly accretive with an expected impact to adjusted income from continuing operations per diluted share of $0.65 in 2015 and more than $1.00 in 2017. Adjusted results are non-GAAP measures that reflect certain adjustments the Company makes to provide insight into operating results. A GAAP to non-GAAP reconciliation is included in this release.
A full discussion of this transaction and its potential financial impact on Belden’s consolidated results will occur tomorrow at 8:30 a.m. EST. The listen-only audio of the conference call will be broadcast live via the Internet at http://investor.belden.com. The dial-in number for participants in the U.S. is 888-417-8465; the dial-in number for participants outside the U.S. is 719-325-2495. A replay of this conference call will remain accessible in the investor relations section of the Company’s website for a limited time.
This transaction is expected to close in the first quarter of 2015 and is subject to customary closing conditions.
Belden Inc., a global leader in high-quality, end-to-end signal transmission solutions, delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today’s applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at www.belden.com; follow us on Twitter @BeldenInc.
Tripwire is a leading provider of security, compliance and IT operations solutions for enterprises, industrial organizations, service providers and government agencies. Tripwire solutions are based on high-fidelity asset visibility and deep endpoint intelligence combined with business context; together these solutions integrate and automate security and IT operations. Tripwire’s portfolio of enterprise-class solutions includes configuration and policy management, file integrity monitoring, vulnerability management, log management, and reporting and analytics. Learn more at tripwire.com, get security news, trends and insights at tripwire.com/blog or follow us on Twitter @TripwireInc.