ADC has inked a $350 million deal to acquire The Krone Group, a supplier of copper- and fiber-based connectivity products and cabling gear, from GenTek Inc.
“With the addition of Krone, we further establish ADC as a leader in network infrastructure,” said ADC President and CEO Robert Switz. ADC’s recently created Global Network Infrastructure division offers products for a variety of broadband mediums, including fiber, copper, coaxial and wireless.
The acquisition also aims to strengthen ADC’s international reach, and accelerate its foray into markets such as China, India, Russia, Eastern Europe and Southeast Asia. About 70 percent of ADC’s sales come from domestic customers, and 80 percent of Krone’s come from outside North America.
ADC expects to close the deal by the end of July.