Belden to acquire GarrettCom and Thomas & Betts Communications division and sell Trapeze Networks

Belden Inc. (NYSE:BDC), a global leader in signal transmission solutions for mission critical applications, has reached a definitive agreement to acquire GarrettCom, a leader in high-availability industrial networking IP-based switches and routers for $US52 million and the Thomas & Betts Communications Products Business for $US78 million.

Both will be funded from cash on hand subject to the satisfaction of customary closing conditions.

Adam Callender, Belden's regional manager for Australia and New Zealand, said with GarrettCom providing advanced industrial networking products and smart grid solutions, the acquisition extends Belden's leadership position as an industrial networking solutions provider by adding a recognised leader in industrial grade switches, routers, converters, serial communications, and security software.

GarrettCom's premium hardened networking products complements Belden’s existing portfolio of Hirschmann® brand high-availability industrial networking solutions and will enable Belden to address the growing needs of customers across a more diverse set of end market applications. GarrettCom's products are sold into power utilities, surveillance and security, transportation, specialty industrial automation, telecommunications, and similar demanding harsh-environment verticals.

"Belden's strategic vision is to provide the best industrial networking solutions to our customers regardless of application or environment," Callender said.

The Thomas & Betts acquisition will further strengthen Belden's position as an end-to-end solution provider within the broadband/CATV, security and audio/video markets. It includes Snap-N-Seal® drop connectors, LRC® hardline connectors, Diamond® hardware & grounding products, and telecom enclosures and connectors, including the Kold-N-Klose® enclosure system.

"By adding these established brands and market-leading Radio Frequency (RF) connectors to its extensive portfolio of audio, video and security cables, Belden will expand its end-to-end solution offering and leverage its existing channels."

In another announcement, Juniper Networks (NYSE: JNPR) and Belden have entered into a definitive agreement under which Juniper will acquire Trapeze Networks, a Belden brand and a technology leader in enterprise wireless local area network (WLAN) systems and management software, in an all cash transaction valued at approximately $US152 million.

Belden recently announced its third quarter results, which saw an increase in revenue of 16 per cent or $US56.3 million year-over-year to $US411.5 million, up from $US355.2 million in the third quarter 2009.

For the full year ending 31 December 2010, non-GAAP revenues are expected to be $US1.6 billion.

www.belden.com

About Belden

Belden designs, manufactures, and markets cable, connectivity and networking products in markets including industrial automation, enterprise, transportation, infrastructure and consumer electronics. It has approximately 6,500 employees and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, Europe and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902 and today is a leader with some of the strongest brands in the signal transmission industry. For more information visit www.belden.com

About GarrettCom

GarrettCom is a leading provider of industrial networking products for specialty and stressed applications with business locations in North America, Europe and India. GarrettCom specialises in mission-critical, customisable, and durable products for extreme conditions. It offers industrial and substation-hardened networking products such as managed or unmanaged switches, multi-protocol routers, Ethernet and serial media converters, terminal servers, and serial communications. GarrettCom also offers software capabilities in the areas of cyber security, physical security, and fault-tolerance for high-availability industrial networking solutions. The company has diversified sales channels with a premier customer base, including 75% of the top 100 power utilities in North America and top-tier industrial system integrators worldwide.

About Thomas & Betts

Thomas & Betts Corporation (NYSE:TNB) is a global leader in the design, manufacture and marketing of essential components used to manage the connection, distribution, transmission and reliability of electrical power in industrial, construction and utility applications. With a portfolio of over 200,000 products marketed under more than 45 premium brand names, Thomas & Betts products are found wherever electricity is used. Headquartered in Memphis, Tenn., Thomas & Betts reported revenues of $US1.9 billion and had approximately 8,500 employees in 2009. For more information visit www.tnb.com.

Note: GAAP stands for Generally Accepted Accounting Principles and is used by every major corporation in the US.

General Belden enquiries: Tel: 1800 500 775 or Email: australia.sales@belden.com