Belden buys privately held PPC for $515.7 million

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 buy 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.

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