Belden Inc. said Tuesday that it plans to acquire Tripwire Inc., a privately-held security software company based in Portland, Oregon, for $710 million in cash.
The St. Louis-based communications equipment company said that the deal will help address cybersecurity issues for its customers. The companies are not strangers: Belden and Tripwire announced a partnership in September to work together to improve infrastructure cybersecurity in manufacturing organizations.
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Belden said the deal will add 65 cents per share to its adjusted income from continuing operations for 2015. The deal is expected to close in the first quarter of 2015.
Shares of Belden increased $1.62 to close at $74.92 Tuesday.