Belden has announced its intention to make an all-cash offer to acquire RuggedCom Inc. for C$22.00 per share.

Belden will propose to acquire all of the outstanding RuggedCom common shares for C$22.00 in cash per share under the terms of the offer. This represents a 62 percent premium to the closing share price of C$13.61 as of December 16, 2011 . The offer also represents an 87 percent premium to the enterprise value as of that date, given the net cash position of RuggedCom's balance sheet, the company stated in a press release.

“For RuggedCom shareholders, the offer is compelling in that it provides certainty of value and immediate liquidity at an attractive premium to RuggedCom's pre-offer share price,” said John Stroup , president and CEO of Belden. “This offer is grounded in Belden's growth strategy to enhance our global networking business portfolio. We believe that the combined company would be a technology leader in Belden's target market segments and would deliver considerable value for Belden customers and shareholders.”

In the electric power transmission and distribution and transportation sectors, the acquisition of RuggedCom would accelerate the growth of Belden's networking business. Offering a broader platform and market reach upon which to leverage RuggedCom's talent and capabilities, Belden's global footprint, with manufacturing facilities in North America, South America, Europe and Asia and a market presence in nearly every region in the world, coupled with its diverse networking business portfolio – including Byres, GarrettCom (News - Alert) and Hirschmann.

In other news, RuggedCom Inc. was recently selected by Nari-Relays Electric Co., Ltd. to provide a communications network for the implementation of the 200MW Golmud Photovoltaic Plant, which is the largest photovoltaic plant in China and one of the largest photovoltaic plants in the world. When completed, the Golmud PV Plant will produce 317GWh of on-grid electricity while simultaneously reducing CO2 emissions by 6000 tons.