DDi to acquire MCM Electronics

Citation

(2000), "DDi to acquire MCM Electronics", Circuit World, Vol. 26 No. 4. https://doi.org/10.1108/cw.2000.21726dab.015

DDi to acquire MCM Electronics

DDi to acquire MCM Electronics

Keywords DDi, MCM Electronics, Acquisition

Dynamic Details Incorporated, a leading provider of time-critical, technologically advanced design, development and manufacturing services, today announced that its parent company, DDi Corp., has signed an agreement to acquire MCM Electronics Ltd, headquartered in Tewkesbury, UK. MCM Electronics, formed as the result of the management buy-out of publicly traded Symonds Limited in July 1999, offers its quick-turn printed circuit board prototype services and high density interconnect products to leading original equipment manufacturers including Alcatel, Raychem, Rotork Controls and Soundcraft/BSS.

In connection with the acquisition, MCM Electronics' shareholders will receive shares of DDi Corp.'s common stock. The transaction, a total purchase consideration of approximately $86 million, will be accounted for using the purchase accounting method.

Upon closure of the transaction, MCM Electronics will operate as a wholly-owned subsidiary of DDi Corp. MCM Electronics reported revenue totalling approximately US$58 million from continuing operations for the year ended 31 December 1999, and employs approximately 500 personnel in the UK.