Lisle, Illinois, United States
Molex Incorporated (NASDAQ:MOLX)(NASDAQ:MOLXA), a global electronic components company, has announced that it has completed its acquisition of Phoenix, Arizona-based Polymicro Technologies, LLC. This acquisition is not financially material to the results of Molex and terms of the transaction were not disclosed.
Polymicro Technologies, LLC manufactures silica capillary tubing and specialty optical fibers, optical fiber and capillary assemblies, discrete micro components and quartz optical fiber ferrules. It offers a total manufacturing solution, providing initial product design, product & process development, prototyping & beta trials and volume production. Industries served include analytical, medical, aerospace, military, manufacturing, telecommunication and communication.
According to Michael Nauman, President, Global Integrated Products Division, Molex Incorporated, this is a strategic acquisition that will help Molex boost its share of the global fiber optic assemblies market.
"Polymicro Technologies products and capabilities will expand Molex's fiber optic offerings in key markets that include medical, military and telecommunications," said Nauman. "With more than 20 years in these growing markets, Polymicro Technologies is a respected industry leader with a strong customer base and an excellent group of talented and experienced people. With Molex's global resources we are confident that together we will grow even faster in key markets in the global fiber optics industry."
According to Gary Nelson, Polymicro Technologies, LLC President and General Manager, Polymicro also offers Molex penetration into the analytical, genomic, and biotechnology markets that use optical fiber, micro- components, optical fiber ferrules, capillary tubing, and assemblies. "The combination of Molex's global footprint and resources with Polymicro's technologies will help expand our offerings globally. The employees and management staff at Polymicro Technologies are excited to join the Molex family."
Polymicro Technologies, LLC has been in business since 1984 and employs approximately 100 people. It will operate as a subsidiary of Molex Incorporated and will be part of the company's Global Integrated Products Division.
Molex Incorporated is a 69-year-old manufacturer of electronic components, including electrical and fiber optic interconnection products and systems, switches and integrated products, with 65 plants in 20 countries throughout the world.
Editor's note: Molex is traded on the NASDAQ Global Select Market (MOLX and MOLXA) in the United States and on the London Stock Exchange. The Company's voting common stock (MOLX) is included in the S&P 500 Index.
Source: Business Wire (Business Wire India)