Cable maker Belden Inc said it bought privately held PPC, which makes connectors used in broadband and wireless services, for $515.7 million to strengthen its position in the broadcast industry.Belden, which makes networking products for the broadcast and consumer electronics industries, has been buying connector companies that complement its cable offerings in these markets as it moves away from selling stand-alone cables.The company bought Canadian Miranda Technologies Inc, a maker of cable-TV and networking products, for about $362 million in July.Belden's shares have gained more than a quarter since it offered to purchase smaller rival RuggedCom Inc in December 2011 to beef up its networking business. They closed at $39.70 on the New York Stock Exchange on Monday.
Belden Inc. (Belden) designs, manufactures, and markets cable, connectivity, and networking products in markets, including industrial, enterprise, broadcast, and consumer electronics. Shares of BDC remained unchanged at $39.70. In the past year, the shares have traded as low as $29.65 and as high as $41.43. On average, 234335 shares of BDC exchange hands on a given day and today's volume is recorded at 0.
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