Signal transmission solutions provider Belden Inc. (NYSE: BDC) has reached an agreement in principle to sell its Mobile Machine Control Solutions (“MCS”) business, including a 50% interest in a Chinese joint venture, the company said.
Both serve the mobile working machines industry.
The buyer, WIKA Group, an international market leader in industrial measurement technology, will pay consideration of approximately USD 39m, subject to customary post-closing adjustments. The transaction is subject to customary closing conditions, including regulatory clearance, and is expected to close in the second fiscal quarter.
The MCS business is a part of Belden´s Industrial Connectivity platform, and the joint venture is an equity method investment within its consolidated results.
Belden delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial, enterprise and broadcast markets.