Belden, a leading global supplier of specialty networking solutions, has entered into a definitive agreement to acquire RUCKUS Networks from Vistance Networks for approximately $1.85 billion, establishing Belden as a leading provider of complete, end-to-end IT and OT networking solutions. The transaction was approved by both companies’ boards and is expected to close in the second half of 2026, subject to regulatory approvals.
RUCKUS is a global provider of enterprise networking solutions serving more than 48,000 customers, offering an integrated portfolio of Wi-Fi, enterprise switching, and an AI-driven cloud networking platform. The business delivers high-single-digit revenue growth, gross margins above 60%, and adjusted EBITDA margins above 20%, each meaningfully above Belden’s current profile. At approximately 13x projected 2026 adjusted EBITDA, Belden describes the entry point as disciplined and attractive for a high-margin, high-growth asset.
The acquisition adds Wi-Fi and enterprise switching capabilities that Belden does not currently offer, expanding into markets where it already operates across hospitality, education, and healthcare. RUCKUS also creates a compelling opportunity to extend high-performance wireless and switching into Belden’s industrial customer base, where demand for converged IT and OT connectivity is accelerating. The combined adjusted EBITDA base of approximately $650 million and RUCKUS’s high free cash flow conversion position Belden to reduce net leverage below 3.0x within the first full year after close, with a long-term target of approximately 1.5x by 2029.
Belden has obtained fully committed debt financing from J.P. Morgan and intends to temporarily pause share repurchases until leverage returns closer to its long-term target. Belden trades on the NYSE under the ticker BDC. Vistance Networks trades on Nasdaq under VISN and expects net proceeds after taxes and transaction expenses of approximately $1.7 billion, with plans to distribute a significant portion to shareholders as a special distribution within 60 days of closing.
Support:
Lewis Rice is serving as lead legal advisor and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Belden. Moelis and Company is acting as financial advisor and Alston and Bird as legal advisor to Vistance Networks.
KEY QUOTES:
“The addition of RUCKUS brings a leading provider of purpose-driven enterprise networks to Belden and accelerates our transformation into a full-stack networking solutions provider. RUCKUS offers proven, differentiated Wi-Fi and enterprise switching technology that our customers in hospitality, education and healthcare are actively demanding, allowing us to deliver a more complete, end-to-end networking solution. Equally important, these same capabilities create a powerful opportunity to bring high-performance wireless and switching to our industrial customers, who are increasingly looking to converge their IT and OT environments.”
Ashish Chand, President and CEO, Belden
“I’m pleased to announce this transaction, which unlocks additional equity value and allows us to return cash to our shareholders, while providing a strategic, complementary fit for our RUCKUS business. This transaction will allow us to focus on the Aurora Networks business.”
Chuck Treadway, CEO, Vistance Networks
