Viasystems Group Completes $283 Mln Acquisition Of DDi Corp

6/1/2012 12:32 PM ET

Printed circuit board provider Viasystems Group, Inc. (VIAS: Quote) said Friday that it has completed the $283 million acquisition of DDi Corp. (DDIC: Quote)

Proceeds from a private placement of $550 million 7.875% Senior Secured Notes due 2019 by Viasystems, Inc., a wholly owned subsidiary of the company, were used to fund the acquisition. David M. Sindelar, chief executive officer of Viasystems, said, "This acquisition creates a combined company with a substantial North American manufacturing presence serving high-mix, low-to-medium-volume needs of customers, to complement a significant high-volume manufacturing footprint in China."

The combined company now has over 15,600 employees and manufacturing floor space exceeding 4.3 million square feet in China and 1.0 million square feet in China and 1.0 million square feet in North America.

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by RTT Staff Writer

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