A PYMNTS Company

US: Koch brothers quietly make $7.2B tech buyout

By  |  September 12, 2013

The billionaire Koch brothers entered into an agreement to acquire Molex, a component parts tech company, for $7.2 billion. The deal has largely flown under the radar as the transaction was inked while the world watched for the latest Apple iPhone announcement, say reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Despite the low profile, the buyout will make a major indent in the electronics industry. Molex manufactures plug parts found in nearly every computer, say reports.

    The deal represents a 31 percent premium over Molex’s stock value as of last Friday, though analysts say they are unsure as to the exact motivation of the purchase.

    The deal is set to finalize next year and will remain an independent brand.

    Full Content: NPR

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.