PCD Inc. Acquires Wells Electronics

PCD Inc., a manufacturer of electronic connectors, has acquired Wells Electronics, Inc., a manufacturer of burn-in and test sockets for the global semiconductor industry, in an all-cash transaction valued at approximately $130 million. Wells had been owned by UL America, Inc., an indirect wholly- owned subsidiary of Siebe plc.

As a result of the acquisition, Wells has been combined with PCD's wholly-owned subsidiary, CTI Technologies, Inc. of Phoenix, Arizona, a leading manufacturer of burn-in and BGA production sockets, to form the Wells-CTI subsidiary of PCD. The newly formed subsidiary is headquartered in South Bend, Indiana, with manufacturing facilities in Lewisberry, PA and Phoenix, AZ. Sales offices are located in San Jose, CA; Northampton, England; and Seoul, South Korea. Wells-CTI also operates two principal subsidiaries in Yokohama, Japan and Singapore, with technical support operations in Regensberg, Germany and Penang, Malaysia.