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Commscope shares surged nearly 70% in early trading on Monday after Amphenol announced it would acquire the company's Connectivity and Cable Solutions business for $10.5 billion in cash. The deal will expand Amphenol's presence in the data communications market, particularly in areas linked to artificial intelligence and advanced data centre infrastructure.
Artificial intelligence is turning data-center components into one of the hottest areas of the market.
Amphenol announced the purchase of CommScope's connectivity and cable unit in a deal valued at about $10.5 billion. CommScope stock jumped.
Fiber-optic cable maker Amphenol said on Monday it will buy CommScope's connectivity and cable solutions business for $10.5 billion in an all-cash deal.
WALLINGFORD, Conn.--(BUSINESS WIRE)--Amphenol Corporation (NYSE: APH) today announced a definitive agreement to acquire CommScope's (NASDAQ: COMM) Connectivity and Cable Solutions (CCS) business for $10.5 billion in cash, subject to customary post-closing adjustments. The transaction expands Amphenol's interconnect product capabilities in the fast-growing IT datacom market, particularly adding fiber optic interconnect products for artificial intelligence and other data center applications, and.
CLAREMONT, N.C.--(BUSINESS WIRE)-- #CommScope--CommScope (NASDAQ: COMM) has entered into a definitive agreement to sell Connectivity and Cable Solutions segment to Amphenol Corporation (NYSE: APH).
The fiber-optic cable maker is set to buy CommScope's broadband connectivity and cable unit.
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Amphenol (APH) possesses solid growth attributes, which could help it handily outperform the market.
Amphenol Corporation (APH) shares up 4,587% since first Big Money outlier signal in 2005.