Belden to acquire broadcast infrastructure player Miranda Technologies
By Anthony Capkun
June 5, 2012 – Belden Inc. (NYSE: BDC), a player in signal transmission solutions, is making an all-cash offer to acquire Miranda Technologies Inc., a Montreal, Que.-based provider of hardware and software solutions for the broadcast infrastructure industry.
“This acquisition is another step in the ongoing transformation taking place at Belden,” said John Stroup, president and CEO of Belden. “We believe that the combined company would be a leader in one of Belden’s target market segments, and would deliver considerable value for Belden customers and shareholders, as well as provide growth opportunities to Miranda employees. As Hirschmann significantly enhanced our industrial portfolio, we expect Miranda to have a similar impact on our broadcast business. I’m excited about the opportunity ahead for us.”
“We’re pleased to be a part of the transformation taking place at Belden,” said Strath Goodship, president and CEO of Miranda Technologies. “Belden has a strong portfolio of successful businesses, proven experience with many of our broadcast customers, and solid reputation in Canada and Montreal… This agreement has the full support of Miranda’s management team.”
With existing operations in Montreal, Cobourg, Ont., and Vancouver, B.C., Belden says it has a longstanding presence and growing business interests in Canada, and has no plans for any changes to Miranda’s existing operations, including its Montreal base.