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CommScope Holding Company, Inc. (symbol: COMM) is a leading provider of infrastructure solutions for communication, data center, and entertainment networks. Headquartered in Hickory, North Carolina, CommScope specializes in both wired and wireless network solutions, playing a pivotal role in enabling service providers such as cable and telephone companies, data centers, and digital broadcast satellite operators to efficiently deliver media, voice, Internet Protocol (IP) data services, and Wi-Fi to subscribers.
CommScope's operations are divided into several key segments:
- Connectivity and Cable Solutions (CCS): Focuses on providing robust connectivity solutions that include copper and fiber optic cables, as well as connectivity components for various applications.
- Outdoor Wireless Networks (OWN): This segment offers solutions for improving wireless coverage and capacity, particularly in outdoor settings such as remote cell sites and large venues like sports arenas and airports.
- Networking, Intelligent Cellular, and Security Solutions (NICS): Develops intelligent networking solutions to enhance cellular connectivity and network security across complex environments.
- Access Network Solutions (ANS): Provides comprehensive solutions to optimize and expand network access, ensuring high-speed and reliable connectivity.
With a focus on innovation and a commitment to excellence, CommScope is continuously evolving to meet the dynamic needs of modern communication. Recent achievements include advancements in 5G technology, expanding the capabilities of its fiber optic solutions, and forming strategic partnerships to enhance its product offerings. Financially, CommScope has shown resilience and adaptability, investing in R&D to stay ahead in the competitive tech landscape.
CommScope's products and solutions are integral to some of the world's most advanced networks, ensuring seamless connectivity in various environments from bustling airports to high-tech data centers. The company's expertise is crucial for businesses looking to boost bandwidth, expand network capacity, and enhance overall efficiency.
CommScope (NASDAQ: COMM) has announced an enhanced collaboration with the National Content & Technology Cooperative (NCTC) to provide improved access to network solutions for NCTC members. The partnership will benefit independent broadband and pay-TV service providers serving small and midsized communities across all U.S. states and territories, reaching approximately one-third of U.S. households.
Key aspects of the collaboration include enhanced purchasing options through a dedicated distribution partner, assistance with Broadband Equity Access and Deployment (BEAD) program funding for rural FTTH network deployments, and resources for efficient fiber network design. CommScope will provide its Build America, Buy America (BABA)-compliant portfolio of FTTH solutions to help independent service providers improve and manage their broadband networks.
CommScope (NASDAQ: COMM) has announced a multi-year partnership as the Official Connectivity Partner of the MoneyGram Haas F1 Team. The company will provide critical race day network operations, including trackside car, garage, and pitwall connectivity solutions. The partnership includes implementing SYSTIMAX and RUCKUS wired and wireless network solutions for both trackside operations and hospitality areas.
The technology suite features broadband fiber, SYSTIMAX fiber and copper connectivity platforms, and RUCKUS enterprise-grade wireless access solutions. The partnership will support the team's factory operations globally and provide high-speed Wi-Fi for VIP guests in the team's hospitality suite within the paddock. Both companies share a home base in North Carolina, adding a special dimension to their collaboration.
Amphenol (NYSE: APH) has completed the acquisition of CommScope's Outdoor Wireless Networks (OWN) and Distributed Antenna Systems (DAS) businesses. The acquisition brings innovative technologies for communications networks and adds nearly 4,000 employees to Amphenol. The OWN and DAS businesses are expected to generate approximately $1.3 billion in sales for full-year 2025 and add approximately $0.06 to Amphenol's 2025 earnings per share, excluding acquisition-related expenses.
Additionally, Amphenol announced the completion of its acquisition of Lifesync , a provider of interconnect products for medical applications with annual sales of approximately $100 million. The OWN and DAS businesses will be integrated into the Communications Solutions Segment, while Lifesync will be part of the Harsh Environment Solutions Segment.
CommScope (NASDAQ: COMM) has completed the sale of its Outdoor Wireless Networks (OWN) segment and Distributed Antenna Systems (DAS) business to Amphenol (NYSE: APH), following the definitive agreement announced on July 18, 2024.
The proceeds will be allocated to:
- Pay transaction fees and expenses
- Repay all outstanding amounts under the asset-backed revolving credit facility
- Partially repay 4.750% Senior Secured Notes due 2029
- Fully repay 6.000% Senior Secured Notes due 2026
The company's asset-backed revolving credit facility committed amount will be reduced to $750.0 million, subject to borrowing base limitations. The Senior Secured Term Loan's applicable margin is expected to decrease by 25 basis points. Additional details about the transaction's impact on fiscal year 2025 outlook will be provided during the next quarterly earnings call.
CommScope (COMM) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 26, before market opening. The company will host a conference call at 8:30 a.m. Eastern where management will discuss the results. Investors can access the live audio through CommScope's Investor Relations website's Events and Presentations page. A webcast replay will be available for a time after the call.
CommScope (NASDAQ: COMM) has announced a comprehensive refinancing transaction, securing $4.15 billion in new debt financing, consisting of a $3.15 billion first-lien term loan maturing in 2029 and $1 billion in first-lien notes maturing in 2031. The transaction will address the company's 2025 and 2026 debt maturities.
The refinancing, supported by Apollo and Monarch Alternative Capital, will be complemented by the previously announced $2.1 billion sale of CommScope's Outdoor Wireless Networks and DAS business units to Amphenol , expected to close in Q1 2025. These proceeds will be used to repay senior secured notes due 2026 and partially redeem notes due 2029.
The company expects its total debt to Adjusted EBITDA ratio to fall below 6.00:1.00 by the end of 2026.
CommScope (NASDAQ: COMM) reported Q3 2024 results with net sales of $1.08 billion, up 2.7% year-over-year. The company posted a GAAP loss from continuing operations of $(96.7) million, or $(0.52) per share. Core non-GAAP adjusted EBITDA reached $220.4 million, a 25% increase from the previous year. The CCS segment showed strong performance with $174 million adjusted EBITDA, up 115% year-over-year. The company generated $122.2 million in operating cash flow and ended the quarter with total liquidity of approximately $1.02 billion. CommScope has narrowed its full-year Core adjusted EBITDA guidance to $700-750 million.
CommScope (NASDAQ: COMM) has partnered with the Cleveland Cavaliers to implement 5G connectivity at Rocket Mortgage FieldHouse using their ERA® DAS (distributed antenna system). The system will cover the 152,979 square foot arena, providing enhanced mobile connectivity for fan experiences. The Chief Information Officer of the Cleveland Cavaliers highlighted that this implementation has reduced their footprint by nearly 85%. The system supports all 5G spectrum bands, including C-band, enabling various digital fan experiences from parking assistance to augmented game experiences.
Amphenol (NYSE: APH) has announced the pricing of its senior notes offering, totaling $1.5 billion across three tranches: $250 million due 2027 at 5.050%, $750 million due 2035 at 5.000%, and $500 million due 2054 at 5.375%. The 2027 Notes are an extension of existing notes issued in April 2024. The offering is expected to close on October 31, 2024. The proceeds will primarily fund the acquisition of CommScope's mobile networks businesses, specifically their Outdoor Wireless Networks and Distributed Antenna Systems divisions. The 2035 and 2054 Notes include a special mandatory redemption clause if the CommScope acquisition fails to complete.
CommScope's RUCKUS Networks has implemented an AI-driven Wi-Fi 7 solution at the Circuit of The Americas (COTA) racetrack in Austin, Texas, making it the first racetrack with this technology. The system features Automated Frequency Coordination (AFC) technology and outdoor 6 GHz at Standard Power. During a recent October event, the network supported over 36,000 connected clients, generating 39 TB of data with speeds up to 1 Gbps. The upgrade includes indoor and outdoor access points, ICX switches, virtual SmartZone controllers, and RUCKUS AI with Melissa AI-driven virtual network assistant.
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