US-based telecommunications equipment makers ADC Telecommunications recently announced that it has signed an acquisition agreement with Century Man, a Chinese provider of communication distribution frame solutions, in a bid to boost its market share in China.

This deal is valued at approximately US$55 million in cash, and an additional US$15 million will be payable to Century Man during the three years following the closing date of the transaction, should certain financial goals be met. The deal is due to be completed during the next 30 to 60 days, Reuters News reported.

Through this acquisition, ADC is able to expand its product portfolio, lower manufacturing costs, and leverage Century Man's existing value-line production lines in China.