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Viasystems to Buy DDi

Electronics manufacturing services provider Viasystems Group Inc. will acquire DDi Corp. for $268 million, the companies announced.

With the acquisition, Viasystems, based in St Louis, Mo., will increase its market share in the military and aerospace market, along with the industrial and instrumentation market, broadening its customer base.

The deal will also expand Viasystems’ quick-turn manufacturing capability including flex and rigid-flex product offerings, the companies reported.

The acquisition will “strengthen Viasystems’ position as a world-class leader in PCB and related electro-mechanical solutions by expanding our technology and manufacturing capabilities, diversifying our end markets, and broadening our customer base and product portfolio,“ said David Sindelar, chief executive officer of Viasystems.

Based on the results for the 12 month period ending Dec. 31, 2011, the combined operations of the companies would have totaled approximately $1.3 billion in revenue.

When the deal closes, the combined company will have approximately 15,650 employees and manufacturing floor space exceeding 4.3 million square feet in China and 1 million square feet in North America.

The terms of the agreement were unanimously approved by the boards of directors of both companies. The acquisition is subject to customary closing conditions and regulatory approvals, and is expected to be completed late in the second quarter or early in the third quarter of calendar 2012.