TTM Technologies to buy Meadville assets for $521M

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November 16, 2009 08:16 AM EST | AP

SANTA ANA, Calif. — TTM Technologies Inc. said Monday it has agreed to buy the printed circuit board business of Meadville Holdings Ltd. for $521 million in cash and stock.

TTM said its acquisition will create one of the biggest circuit board manufacturers in the world, with $1.35 billion in revenue.

Meadville, which is based in Hong Kong, makes printed circuit boards for communications equipment, cell phones, and high-end consumer electronics.

TTM expects to close the deal in the first quarter of next year.