AMP to merge with M/A-Com to increase presence in wireless markets

A merger agreement has been reached between AMP Inc. (Harrisburg, PA), a manufacturer of electronic and fiberoptic interconnection products, and M/A-Com Inc. (Lowell, MA), a manufacturer of microwave, millimeterwave, and wireless products. William J. Hudson, president and CEO of AMP, said that the merger presents an opportunity for AMP to immediately enter the high-growth market for advanced wireless components. M/A-Com makes discrete semiconductors, integrated circuits, cables, connectors, and related components to provide interconnect solutions. M/A-Com CEO Thomas A. Vanderslice said, "This linkage with AMP will dramatically accelerate M/A-Com's ability to service the component needs of leading wireless OEMs worldwide, all of whom are already AMP customers." AMP will trade stock worth about $270 million for all of M/A-Com's shares and will assume $75 million of the debt.