BDC · Belden Inc.

Belden Inc. has signed a definitive Purchase Agreement dated April 29, 2026, to acquire Vistance Networks' RUCKUS reporting segment for $1.846 billion in cash on a cash-free, debt-free basis, subject to post-closing adjustments based on working capital, cash, and indebtedness using specified accounting principles. The transaction positions Belden to expand into Wi-Fi and enterprise switching, enhancing its IT/OT networking portfolio for enterprise and industrial customers, as highlighted in the press release. Closing is targeted for the second half of 2026, following the later of three business days after satisfying conditions or 30 days post-delivery of required financial information. Key conditions include HSR Act waiting period expiration, regulatory approvals in specified jurisdictions, accuracy of representations, covenant compliance, no material adverse effect on RUCKUS, completion of seller's restructuring to separate the business, delivery of post-signing financials, and release of liens under Vistance's credit agreement. Termination is possible by January 31, 2027, extendable three months for regulatory delays. The agreement includes customary covenants, such as operating RUCKUS in the ordinary course, preservation of relationships, and restrictions on competing activities for three years post-closing. Buyer has secured a fully committed $1.85B seven-year senior secured Term Loan B from JPMorgan Chase Bank, N.A., with flexibility for alternative financing, supporting immediate EPS accretion and margin expansion per management commentary.