Santa Ana Tech Firm BoughtWednesday, July 12, 2017
Cable Exchange, a Santa Ana-based company with 200 employees, was bought by CommScope Holding Co. on undisclosed terms.
Cable Exchange provides custom cable assemblies to data center markets. It stocks about 200,000 pre-made fiber jumpers and some 250,000 copper patch cords.
“We’re very strong in the cloud computing market,” said President Joey Hynes, whose father Joseph R. Hynes incorporated the company in 1986 and is retiring.
Joey Hynes said he and company employees will continue to work at Cable Exchange as part of CommScope, which is based in Hickory, North Carolina.
“CommScope has been an industry leader for a long time and this deal will provide an interesting opportunity for us to grow,” Joey Hynes said.
CommScope said the acquisition will improve its capabilities in the growing market for high-capacity, multi-tenant data centers operated by the world’s largest technology and retail companies.
Chief Executive Eddie Edwards in a statement called Cable Exchange “a trusted and respected provider of critical network infrastructure with strong customer relationships.”
The company intends to fund the acquisition with cash on hand and close the deal within 60 days.
CommScope (NASDAQ: COMM) reported 2016 revenue climbed 29% to $4.9 billion and traded recently at a $6.9 billion market cap.