TTM Technologies in pact to sell Shanghai Backplane Assembly for $11.8M

TTM Technologies announced that that it has signed a definitive agreement to sell its Shanghai Backplane Assembly for approximately $11.8M, subject to customary post-closing adjustments, to DBG Holdings Limited , which is wholly owned by DBG Technology , a public company traded on the Shenzhen Stock Exchange. We expect this transaction to close near the end of the first quarter. BPA is a small assembly facility that generated $44.7M in revenues and an immaterial amount of operating income in 2022. This transaction is consistent with our strategy to continue developing TTM as a diversified technology solutions leader for our customers, and to reshape our core business portfolio for improved differentiation, financial stability and long-term profitability. This strategy entails investing in differentiated Commercial and Aerospace & Defense capabilities. Following this divestiture to DBG, TTM will exit the commercial backplane assembly business.