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Benchmark Electronics To Acquire Secure Technology

The following excerpt is from the company's SEC filing.

Strengthens Benchmark’s Position in Key Strategic End-markets

Transaction Expected to Be Immediately Accretive to Margins and EPS


2, 201

Benchmark Electronics, Inc. (NYSE: BHE)


announced that it has entered into a definitive


to acquire


Communication Systems, Inc. and its subsidiaries (collectively referred to as “Secure Technology” or “Secure”),

a leading engineered products and solutions provider

, for approximately $230 million in cash, on a debt-free, cash-free basis subject to a working capital adjustment.

Secure, headquartered in Santa Ana, California, is

a leading provider of customized high performance electronics, sub-systems, and component solutions for mission critical applications in highly regulated industrial, aerospace and defense markets.

The transaction is expected to be immediately accretive to Benchmark’s margins and earnings per share.

“We are very excited about the strategic acquisition of Secure Technology and look forward to offering our customers an expanded portfolio of highly engineered solutions and enhancing value creation for our shareholders,” said Gayla Delly, President and Chief Executive Officer of Benchmark. “Together with the Secure team, we will have new opportunities with customers in our industrial markets, which include the aerospace and defense sectors. In addition, Secure will be able to leverage Benchmark’s manufacturing and supply chain expertise, operational systems and long history of quality performance to provide a broader array of solutions and services to its customers.”

Allen Ronk, Secure Technology’s Chief Executive Officer, noted “The strategic and cultural fit between our two companies will be a strong differentiator; the Secure team is enthusiastic about joining Benchmark. This transaction will allow us to...