Santa Ana-based TTM Technologies Inc. plans to buy Tyco International Ltd.’s printed circuit board unit for $226 million.
The acquisition, announced late Wednesday, will roughly double TTM’s sales to an annualized rate of about $650 million.
TTM said the deal for the Tyco Printed Circuit Group in Stafford, Conn., should be completed in the fall.
Shares of TTM were up more than 7.6% in trading Thursday.
TTM said it would become the largest printed circuit board maker in North America following the acquisition.
The move will help it stay competitive with its Asian competitors. TTM will expand its presence in what’s called quick turn business,projects that are difficult to send overseas because the orders come on short notice.
“Together, we have a more diversified customer base, broader end-market exposure, and expanded capabilities,” said Kent Alder, TTM’s chief executive.
