Belden Purchases Thomas & Betts' Business For $78M

ST. LOUIS (AP) -- Belden Inc., an electronics components maker, said Thursday it agreed to buy Thomas & Betts Corp.'s communications products business for $78 million in cash.

Memphis, Tenn.-based Thomas & Betts said the communications products business is part of its electric segment. It includes coaxial cable drop connectors, pole line hardware and other products. It generated about 9 cents of earnings per share and $45 million in revenue in the first nine months of this year.

Belden said the Thomas & Betts products complement its existing audio, video and security cables. Belden said it expects the acquisition to close by the end of 2010 and add 5 cents per share to earnings in 2011.