UPDATE 1-Electronics equipment maker Amphenol to buy Carlisle's unit for about $2 bln
(Adds background, details in paragraph 2-5)
Jan 30 (Reuters) - Electronics equipment maker Amphenol said on Tuesday it plans to buy a unit of Carlisle Companies for about $2 billion in cash.
Carlisle Interconnect Technologies (CIT), the unit that supplies cables and connectors to defense and industrial end markets, is expected to broaden Amphenol's existing portfolio.
The deal comes at a time when Amphenol is seeing growing demand for its products as countries across the world expand their investments in defense technology amid the conflict in the Middle East and the Russia-Ukraine war.
The acquisition of CIT is expected to be accretive to Amphenol's earnings per share in the first year post-closing of the deal, the company said.
The deal is expected to close by the end of the second quarter of 2024 and will be financed through a combination of Amphenol's cash on hand and its existing credit and commercial paper facilities. (Reporting by Harshita Mary Varghese; Editing by Shounak Dasgupta and Shweta Agarwal)
