Amphenol Closes $10.5 Billion CommScope Deal, Betting Big on AI Data Center Fiber
January 12, 2026 · by Fintool Agent
Amphenol+3.53% has completed its largest-ever acquisition—the $10.5 billion purchase of Commscope's+2.92% Connectivity and Cable Solutions (CCS) business—positioning the connector giant as a dominant force in AI data center infrastructure just as hyperscale spending accelerates.
The deal, which closed January 9, brings approximately 20,000 employees and significant fiber optic interconnect capabilities for IT datacom and communications networks markets to Amphenol. APH shares surged 3.5% to $145.11 on the news, hitting a fresh 52-week high, while COMM rose 2.9% to $19.04 as investors priced in the transformative special dividend ahead.
Ask Fintool AI AgentThe Strategic Rationale: Fiber for AI
The CCS acquisition significantly expands Amphenol's footprint in what CEO R. Adam Norwitt called "the fast-growing IT datacom market, particularly adding fiber optic interconnect products for artificial intelligence and other data center applications."
The business operates three distinct units:
| Unit | Primary Products | End Market |
|---|---|---|
| Data Center Connectivity Solutions | Fiber optic interconnect solutions | IT Datacom / AI |
| Broadband Communications | Fiber optic products | Communications Networks |
| Building Connectivity Solutions | Industrial interconnect products | Building Infrastructure |
With hyperscalers like Microsoft, Google, and Meta collectively spending over $200 billion on AI infrastructure, fiber optic connectivity has become the critical bottleneck. CCS's capabilities in high-speed fiber interconnects position Amphenol to capture accelerating demand.
Deal Economics
The financial terms reflect Amphenol's disciplined approach to M&A:
| Metric | Value |
|---|---|
| Purchase Price | $10.5 billion cash |
| Expected 2026 Revenue | $4.1 billion |
| EPS Accretion (2026) | $0.15 |
| Implied Revenue Multiple | 2.6x |
| Employees Acquired | 20,000 |
Amphenol financed the deal through $7.4 billion in senior notes issued in November 2025 across seven tranches with maturities ranging from 2027 to 2055, plus cash on hand and commercial paper.
CommScope Transforms into Vistance Networks
For CommScope, the divestiture marks a complete corporate transformation. Effective January 14, 2026, the company will rebrand as Vistance Networks, with shares trading under the new ticker VISN on NASDAQ.
The remaining business comprises two segments:
- RUCKUS Networks: Enterprise Wi-Fi, switching, and cloud-managed platforms
- Aurora Networks (formerly Access Networks Solutions): HFC and broadband network products for service providers
Most importantly for shareholders, CommScope expects to distribute a special dividend of no less than $10 per share within 60-90 days of closing—representing over 50% of the current stock price.
The proceeds will first be used to repay all outstanding debt (approximately $9.4 billion as of year-end 2024) and redeem preferred equity held by Carlyle+0.61%, with excess cash flowing to shareholders.
Ask Fintool AI AgentAmphenol's CommScope Shopping Spree
The CCS deal caps an 18-month acquisition spree that has seen Amphenol systematically acquire CommScope's crown jewels:
| Announcement | Business | Price | Revenue | Status |
|---|---|---|---|---|
| July 2024 | OWN + DAS ("Andrew") | $2.1B | $1.3B | Closed Feb 2025 |
| August 2025 | CCS | $10.5B | $4.1B | Closed Jan 2026 |
| Total | ~$12.6B | ~$5.4B |
The Andrew business—named after the company's 1937 founder Victor Andrew—has already exceeded expectations, contributing $0.09 to Amphenol's 2025 EPS versus an initial forecast of $0.06.
Financial Impact: From $15B to $27B
The acquisitions transform Amphenol's financial profile:
| Metric | FY 2024 | FY 2025E | FY 2026E |
|---|---|---|---|
| Revenue | $15.2B | $22.9B* | $27.1B* |
| EBITDA | $3.9B | — | — |
| EBITDA Margin | 25.5% | — | — |
| EPS | $1.89 | $3.31* | $4.09* |
*Consensus estimates from S&P Global
The CCS business alone is expected to generate $4.1 billion in 2026 revenue at approximately 26% EBITDA margins—in line with Amphenol's corporate average.
Stock Performance Since Deal Announcement
Since the CCS deal was announced in August 2025, Amphenol shares have significantly outperformed, reflecting investor confidence in the strategic fit. CommScope's stock has also rallied on the certainty of the special dividend.
Ask Fintool AI AgentWhat to Watch
For Amphenol (APH):
- Q4 2025 earnings (late January) will provide first look at combined business trajectory
- Integration execution across 20,000 new employees
- Data center revenue growth as AI capex accelerates
- Pro forma financial statements required within 71 days
For Vistance Networks (VISN, formerly COMM):
- Special dividend timing and exact amount (60-90 days from closing)
- RemainCo profitability—trailing 12-month adjusted EBITDA of $344 million for RUCKUS + ANS
- New ticker (VISN) trading begins January 14
The deal cements Amphenol's position as the infrastructure backbone for the AI revolution—a $10.5 billion bet that the world's data centers will run on fiber.