Cloud computing, mobility, video, and social networking
The Carlyle Group has acquired CommScope, a provider of infrastructure offerings for communications networks.
Through this merger Carlyle will leverage on CommScope product portfolio including cloud computing, mobility, video, and social networking.
CommScope president and chief operating officer Marvin Edwards Jr said it is an exciting time for CommScope, and they are thrilled to complete this transaction.
"Our customers will continue to receive the outstanding technologies, offerings and support that they have come to expect from CommScope, as our commitment to serving their needs remains constant," Edwards Jr said.
The company said that Marvin Edwards Jr., CommScope’s current president and chief operating officer, has been appointed as president and chief executive officer, succeeding Frank Drendel.
Edwards Jr will also join CommScope’s board of directors, and Drendel will continue as the chairman of the board.
Under the terms of the merger agreement, CommScope stockholders will receive $31.50 per share in cash for each share of CommScope common stock that they hold.