Belden Announces Acquisition of OTN Systems N.V.

St. Louis, Missouri - January 27, 2021 - Belden Inc. (NYSE: BDC), a leading global supplier of specialty networking solutions, today announced that it has entered into a definitive agreement to acquire privately held OTN Systems N.V., a leading provider of automation networking infrastructure solutions, for approximately $71 million, net of cash acquired. The transaction is expected to close in the first quarter 2021, subject to customary closing conditions, and will be financed with cash on hand, which was approximately $500 million at the end of 2020. Separately, the Company increased its revenue and EPS guidance for the fourth quarter 2020.

OTN Systems N.V. Acquisition Highlights

  • Supports one of Belden’s key strategic priorities related to the growing demand for industrial automation by adding proprietary technology and mission-critical hardware and software products for more complete end-to-end solutions;
  • Accelerates Belden’s Customer Innovation Center (CIC) initiatives with advanced solution selling and customer consulting capabilities, allowing the Company to bid on a wider array of projects;
  • Offers meaningful business synergies in the product, technology and commercial areas;
  • Provides additional revenues of approximately $35 - $40 million in the first full year of ownership; and
  • Dilutive to GAAP EPS by approximately ($0.12 - $0.09), and accretive to adjusted EPS by approximately $0.10 - $0.13 in the first full year of ownership.

Headquartered in Olen, Belgium, OTN Systems is a leading provider of easy to use and highly-reliable network solutions tailored for specific applications in harsh, mission-critical environments. OTN Systems’ value-added technology allows customers to easily build, maintain, and monitor complex networks in growing industrial markets, such as Process, Power Transmission, and Mass Transit. Belden and OTN Systems have a commercial partnership dating back to 2017.

“We are extremely excited to welcome the talented OTN Systems team to the Belden family,” said Roel Vestjens, President and CEO of Belden. “The business is uniquely well-positioned for success given its numerous market growth drivers and portfolio of innovative networking products and technologies. This is a very compelling acquisition for Belden that provides additional opportunities for profitable growth in our Industrial Solutions business.”

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Notes for editors

As an early innovator in industrial Ethernet, Belden knows industrial IT and delivers the next generation of industrial networking solutions, including wired, wireless and embedded products. With its global brands – Hirschmann, GarrettCom and Tofino Security – Belden helps companies minimize downtime and take advantage of the real-time data access and control made possible by the Industrial Internet of Things (IIoT). Through a seamless, secure and scalable industrial Ethernet infrastructure, companies are equipped to revolutionize their operations and achieve improved efficiency, productivity and agility.

About Belden

Belden Inc. delivers a comprehensive product portfolio designed to meet the mission-critical network infrastructure needs of industrial and enterprise markets. With innovative solutions targeted at reliable and secure transmission of rapidly growing amounts of data, audio and video needed for today's applications, Belden is at the center of the global transformation to a connected world. Founded in 1902, the company is headquartered in St. Louis and has manufacturing capabilities in North and South America, Europe and Asia. For more information, visit us at; follow us on Twitter: @BeldenIND.

Belden, Belden Sending All The Right Signals, Hirschmann, GarrettCom, Tofino Security and the Belden logo are trademarks or registered trademarks of Belden Inc. or its affiliated companies in the United States and other jurisdictions. Belden and other parties may also have trademark rights in other terms used herein.

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Roel Vestjens, President and CEO of Belden. (Photo: Belden, PR501)


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