Printed circuit boards maker Viasystems Group Inc will acquire smaller rival DDi Corp for about $268 million in cash, to add products to its portfolio and expand its manufacturing base in North America."The transaction allows Viasystems, to increase its market share in the technically demanding military and aerospace market and the growing industrial and instrumentation market," the companies said in a statement.The $13.00 per share offer price is a 6 percent premium to DDi's Tuesday close of $12.26. The total transaction value is about $282 million, including DDi's debt.The deal, which is expected to close late in the second quarter or early in the third quarter, will add to Viasystems' adjusted profit immediately.
DDi Corp. (DDi) provides printed circuit board (PCB) engineering and manufacturing services. Shares of DDIC remained unchanged at $12.26. In the past year, the shares have traded as low as $6.66 and as high as $12.63. On average, 80206 shares of DDIC exchange hands on a given day and today's volume is recorded at 100.
Viasystems Group, Inc. (Viasystems) is a provider of multi-layer printed circuit boards (PCBs) and electromechanical solutions (E-M Solutions). Shares of VIAS remained unchanged at $19.27. In the past year, the shares have traded as low as $13.75 and as high as $27.20. On average, 11524 shares of VIAS exchange hands on a given day and today's volume is recorded at 0.
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