Bel Acquires Gigacom Interconnect AB
March 09 2012 - 11:20AM
Business Wire
Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB) announced
today that it closed the acquisition of Gigacom Interconnect AB,
Gothenburg, Sweden, a leading supplier of expanded beam fiber optic
technology and a leading participant in the development of
next-generation commercial aircraft standards. Terms of the
transaction were not disclosed.
Noting that Gigacom will become part of Bel's Cinch Connectors
business, Daniel Bernstein, Bel's President and CEO, said, "This
acquisition is in line with our strategy to focus on high value
added, non-commodity components. Gigacom's offering of expanded
beam fiber optic products, which are replacing traditional
copper-based components due to their superior performance,
reliability and lighter weight, will enhance Cinch's position in
growing aerospace and military markets."
Founded in 1996, Gigacom Interconnect was a division of Gigacom
AB, Gothenburg, Sweden, a leading supplier of fiber optic
components.
About Bel
Bel (www.belfuse.com) and its
divisions are primarily engaged in the design, manufacture, and
sale of products used in networking, telecommunications, high-speed
data transmission, commercial aerospace, military, transportation,
and consumer electronics. Products include magnetics (discrete
components, power transformers and MagJack® connectors with
integrated magnetics), modules (DC-DC converters, integrated analog
front-end modules and custom designs), circuit protection
(miniature, micro and surface mount fuses) and interconnect devices
(micro, circular and filtered D-Sub connectors, passive jacks,
plugs and high-speed cable assemblies). The Company operates
facilities around the world.
Forward-Looking Statements
Except for historical information contained in this press
release, the matters discussed in this press release (including the
statements regarding the effects and costs of, and the anticipated
savings resulting from, Bel's streamlining activities, the time
required to implement such streamlining activities and anticipated
changes in product offerings) are forward looking statements that
involve risks and uncertainties. Among the factors that could cause
actual results to differ materially from such statements are: the
market concerns facing our customers; the continuing viability of
sectors that rely on our products; the effects of business and
economic conditions; capacity and supply constraints or
difficulties; product development, commercializing or technological
difficulties; the regulatory and trade environment; risks
associated with foreign currencies; uncertainties associated with
legal proceedings; the market's acceptance of the Company's new
products and competitive responses to those new products; and the
risk factors detailed from time to time in the Company's SEC
reports. In light of the risks and uncertainties, there can be no
assurance that any forward-looking statement will in fact prove to
be correct. We undertake no obligation to update or revise any
forward-looking statements.
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