quarter and announced the closure of its acquisition bid on Praegitzer Industries, Inc, at $5.50 per share cash, writes Jonathan Bell .

Chairman and chief executive officer of the company L. Dennis Kozlowski said the acquisition would boost earnings and expand the company's long-term platform for growth.

"The acquisition of Praegitzer will enable us to continue building the momentum of our Tyco Telecommunications Group,'' he said, adding: "Demand for Tyco products remains strong, and we continue to see significant increases in recurring revenues from our service operations.'' Tyco is the world's biggest manufacturer and servicer of electrical and electronic components, notably in undersea telecommunications systems. It also leads in manufacturing and installing fire protection systems.