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December 10, 2014

Belden buys Tripwire for IoT security

Deal expected to complete first quarter of next year worth $710m (£453m) in cash.

By Jimmy Nicholls

The networking firm Belden will acquire the security company Tripwire for $710m (£453m) in cash, in a bid to capitalise on interest in the emerging Internet of Things (IoT) market.

The purchase follows a partnership between the firms in September that aimed to secure manufacturing infrastructure, with the deal expected to be completed in the first quarter of next year.

John Stroup, president and chief executive of Belden, said: "We look forward to incorporating Tripwire technology into selected Belden products and providing Tripwire with access to existing Belden customers that are anxious to improve the robustness and security of their networks,"

"This positions Belden as a leader in helping customers deploy and secure the Internet of Things."

Earnings per share is expected to instantly increase off the back of the deal, with adjusted income from continuing operations per diluted share thought likely to stand at $0.65 (£0.41) by the end of 2015.

Annual revenues for Belden, measured by the generally accepted accounting principles (GAAP), are estimated by the company to reach $121m (£77.1m) over the same period.

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