Amphenol Corporation (NYSE:APH) agreed to acquire Connectivity and Cable Solutions (CCS) business of CommScope Holding Company, Inc. (NasdaqGS:COMM) for $10.5 billion on August 4, 2025. Consideration would be on a cash-free, debt-free basis and subject to certain other customary adjustments. CCS operates as three distinct businesses: Data Center Connectivity Solutions, which primarily sells fiber optic interconnect solutions to customers in the IT datacom market; Broadband Communications, which primarily sells fiber optic and other interconnect solutions to customers in the communications networks market; and Building Connectivity Solutions, which primarily sells a broad array of interconnect solutions integrated into existing and next-generation building technology in the industrial market.

Amphenol intends to finance the acquisition through a combination of cash on hand and debt,and has obtained committed financing from J.P. Morgan Securities LLC, BNP Paribas and Mizuho Bank, Ltd. to fund the transaction. In connection with the CCS Acquisition, Amphenol has arranged a senior unsecured delayed draw term loan facility totaling $2 billion. The proceeds of the Loans incurred on the Funding Date will be used to (i) to finance all or a portion of the consideration for the CCS Acquisition, (ii) to finance all or a portion of the Refinancing and (iii) for the payment of fees and expenses in connection with the Transactions.
The transaction is subject to the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, receipt of certain other necessary government consents, and the affirmative vote of the CommScope shareholders. The board of directors of CommScope has unanimously approved and declared expedient and for the best interests. The expected completion of the transaction is expected to close in the first half of 2026. In case of termination, CommScope will pay Amphenol a termination fee of $367.5 million and vice versa.

The Company expects net proceeds after taxes and transaction expenses to be approximately $10 billion. After repaying all debt, redeeming all preferred equity, which is held by global investment firm Carlyle (NASDAQ: CG), and adding modest leverage on the remaining business, the Company will have significant excess cash. The Company expects to distribute this excess cash to shareholders as a dividend within 60 to 90 days following the closing of the proposed transaction. The acquisition is expected to be accretive to Amphenol?s Diluted Earnings Per Share in the first full year after closing. As on October 16, 2025, the transaction had been approved by CommScope shareholders. The transaction is expected to close by the end of March, 2026. As of November 19, 2025 European Commission has granted approval to the transaction.


J.P. Morgan Securities LLC acted as financial advisor and Charles Ruck,Andrew Elken,Brian Umanoff,Cindy Caillavet Sinclair,Wesley Holmes,Chuck Cassidy,Maria Concepcion Olivera,Morgan Brubaker,Pardis Zomor,William Kessler,Jason Cruise,Francesca Pisano,Max Hauser,Jana Dammann de Chapto,Heather Deixler,Danielle van der Merwe,Josh Friedman,Shaun Thompson,Laura Waller,Jeff Hammel,Shira Bressler,Christopher Norton,Ruchi Gill,Drew Levin and Hannah Cary of Latham & Watkins LLP acted as legal advisor for Amphenol Corporation. Evercore Inc. acted as financial advisor and Fairness Opinion Provider and C. Mark Kelly, T. Scott Kummer, Peter C. Fritz, Justin Howard, Sarah Hess Mackenzie, Bhanu Mathur, Simon Root, Matthew Kent, Jens-Olrik Murach, Abigail Cessna, Irene Fraile, Chris Gegg, John Baron, Danny Reach, Matthew Wrysinski, Jennifer Everett of Alston & Bird LLP acted as legal advisor to CommScope Holding Company, Inc. Krishna Veeraraghavan and Benjamin Goodchild of Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Evercore Partners as financial advisor to CommScope.

Amphenol Corporation (NYSE:APH) completed the acquisition of Connectivity and Cable Solutions (CCS) business of CommScope Holding Company, Inc. (NasdaqGS:COMM) on January 9, 2026. As a result of merger, CCS business will be included in the Communications Solutions Segment.