Italy's Prysmian seals $1 bln buy of U.S. Channell to complement digital business

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Italy's Prysmian seals $1 bln buy of U.S. Channell to complement digital business

, Reuters - 1:24 PM ET 3/25/2025 default

MILAN, March 25 (Reuters) - Italy's Prysmian has agreed to buy U.S. connectivity solutions manufacturer Channell Commercial Corp for up to $1.15 billion, the world's largest cable maker said on Tuesday, on the eve of its investor day.

Prysmian said the deal marked its first acquisition in a sector that complements its business of digital solution cables, which includes supporting the expansion of data centres and the roll-out of 5G technology in the United States and Europe.

The deal's price tag of $950 million could be increased by up to another $200 million based on Channell achieving certain financial results this year, Prysmian said.

(Reporting by Giulio Piovaccari; Editing by Valentina Za)

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