Illustration 19276996 / Dirk Erck / Dreamstime
Iillustration 19276996 / Dirk Erck / Dreamstime
Illustration 60886103 / Kheng Ho To /Dreamstime

Siemens agrees to buy RuggedCom

Jan. 30, 2012
The Munich, Germany, corporate offices of Siemens announced today the company has entered into an agreement to acquire RuggedCom, Concord, Ontario, Canada, in a friendly, board-supported takeover bid. The Canadian company is a provider of ...

The Munich, Germany, corporate offices of Siemens announced today the company has entered into an agreement to acquire RuggedCom, Concord, Ontario, Canada, in a friendly, board-supported takeover bid.

The Canadian company is a provider of communications and networking solutions such as routers for harsh industrial environments. The total transaction value is estimated at about C$382 million (about US$381 million). RuggedCom's board unanimously supports the takeover, is recommending that RuggedCom's shareholders accept the offer, which is a contrast to their recommendation against a takeover by Belden about a month ago.

With annual revenues of approximately US$94 million (fiscal 2011) and approximately 360 employees, RuggedCom provides robust, industrial-quality Ethernet communication products and network solutions. These products are used primarily under rough environmental conditions – for example, in power distribution, in refineries, or in traffic control systems. The move expands Siemens' offerings for the smart grid market, among others.

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