RUCKUS is an enterprise networking solutions provider offering connectivity designed for high-density, mission-critical environments, serving more than 48,000 customers worldwide. RUCKUS offers an integrated portfolio of Wi-Fi solutions, enterprise switching, and an AI-powered cloud networking platform that enables organizations to optimize performance, simplify operations, and securely connect users and devices. RUCKUS is known for its differentiated technology, robust channel ecosystem, and focus on reliability and user experience at scale.
“The addition of RUCKUS brings Belden a leading provider of purpose-built enterprise networking and accelerates our transformation into a full-stack networking solutions provider,” said Ashish Chand, Belden Chairman and CEO. “RUCKUS offers proven and differentiated enterprise Wi-Fi and switching technology that our hospitality, education, and healthcare customers are actively seeking, enabling us to deliver a more comprehensive, end-to-end networking solution. Equally important, these same capabilities create a significant opportunity to bring high-performance wireless and switching technology to our industrial customers, who are increasingly looking to converge their IT and OT environments. Together, Belden and RUCKUS will deliver a broader, higher-value networking solution for enterprise and industrial customers, while strengthening our financial profile, generating strong free cash flow to support rapid deleveraging, and creating significant long-term shareholder value.”.
Attractive strategic and financial opportunities:
Important growth catalyst: Delivers industry-leading enterprise Wi-Fi and switching capabilities that directly strengthen the company's solutions offering in key business growth verticals, including hospitality, education, and healthcare.
Expands total market potential: RUCKUS brings enterprise Wi-Fi and switching technology—product categories not currently offered by Belden—to markets where Belden already operates, significantly expanding the combined organization's market opportunities. The combination positions Belden to offer a more comprehensive and higher-value active networking solution spanning enterprise campuses, high-density public venues, and industrial facilities.
Seize the industrial opportunity: RUCKUS' proven high-performance networking platform creates an attractive opportunity to extend best-in-class wireless and switching solutions to Belden's industrial customer base, where demand for converged IT and OT connectivity is accelerating.
It offers an attractive financial profile: RUCKUS's high-margin profile is expected to drive growth in Belden's gross margins, adjusted EBITDA margins and adjusted earnings per share, representing a significant improvement in Belden's financial profile.
A clear path to rapid deleveraging: Combined with Belden’s strong free cash flow generation and RUCKUS’s high cash conversion, the company expects to reduce net leverage to below 3.0x in the first full year after closing and achieve its long-term target of approximately 1.5x by 2029. Belden will prioritize debt repayment while maintaining its commitment to disciplined capital allocation.
With a multiple of approximately 13 times the adjusted EBITDA projected for 2026, the transaction represents a disciplined and attractive entry point for a high-margin, high-growth asset. RUCKUS brings a high-quality financial profile to the combined company, with high single-digit revenue growth, gross margins exceeding 60%, and adjusted EBITDA margins exceeding 20% in the first full year of ownership—all significantly above Belden’s current profile. As a result, the transaction is expected to have an immediate positive effect on adjusted earnings per share. The acquisition is also expected to accelerate growth, further strengthening Belden’s long-term financial framework.
