The Joplin Globe, Joplin, MO

Business

June 1, 2012

Viasystems completes $267M deal for DDi

ST. LOUIS — Viasystems Group Inc. said Friday that it completed its $267 million acquisition of electronics manufacturing services provider DDi Corp., strengthening its position in the printed circuit boards industry.

St. Louis-based Viasystems, which makes printed circuit boards and other products, said in April that it would pay $13 per share for DDi, which at the time represented a 6 percent premium over DDi’s stock price.

The companies valued the deal at about $283 million, including the DDi debt that Viasystems will assume.

Viasystems said in April that it expects the acquisition to immediately add to its adjusted earnings per share and save it at least $10 million a year prior to accounting for income tax effects. The savings are expected to be realized within six months after the buyout closes.

The combined company will have over 15,600 workers.

Viasystems shares fell 15 cents to $19.06 in opening trading on Friday. Its shares have traded in a 52-week range of $13.75 to $24.28 per share.

 

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