Technology

ADC Phones KRONE

3/25/2004 4:53 AM Eastern

ADC Telecommunications Inc. will acquire KRONE Group from GenTek Inc. in a deal announced Thursday.

KRONE is a provider of copper- and fiber-optic-based cabling and connectivity systems.

The proposed deal is valued at approximately $350 million. ADC will pay some $291 million in cash and assume other defined liabilities.

The transaction is expected to close during ADC's fiscal third quarter, which ends July 31.

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