Belden Inc.

Overview

• Global supplier of connection solutions that support safer, smarter, and more prosperous operations.
• Organized into two reportable segments: Smart Infrastructure Solutions and Automation Solutions.
• In 2026, the company began realigning to a unified functional operating model.
• Serves distributors, end-users, installers, and OEMs, generally without exclusive purchasing commitments.

Business segments

Smart Infrastructure Solutions

• Provider of network infrastructure and broadband solutions.
• Primary market focus for smart buildings: data centers, government, healthcare, hospitality, commercial real estate, education, financial institutions, stadiums/venues, and military installations.
• Product lines: copper cable and connectivity, fiber cable and connectivity, interconnect panels, racks and enclosures, and secure, high-performance signal extension and matrix switching systems.
• End-to-end fiber and copper network solutions support local area networks, data centers, access control, 5G, Fiber to the Home, and building automation.
• Offers intelligent power, cooling, and airflow management for mission-critical data center operations.

Automation Solutions

• Provides digitization infrastructure to enable IT/OT convergence, including physical AI, to help customers make data-based decisions.
• End-to-end solutions cover data acquisition, transmission, orchestration, and management.
• Targets industries such as warehousing & logistics, energy, transportation, and discrete manufacturing.
• Products sold to industrial equipment OEMs and through distributors, value-added resellers, and system integrators.

Strategic and product context

• R&D priorities include increasing data transmission capacity and bandwidth across fiber and copper, and advancing IT/OT convergence with AI-enabled data collection and analysis.
• Portfolio supports technologies up to 100G+ Ethernet, including Power over Ethernet, and addresses evolving service provider and enterprise networking needs such as 5G and data-center migrations.
• Recent acquisitions to expand the portfolio:
  • Voleatech GmbH (September 2024) — VT AIR Next Gen Firewall (OT security).
  • Precision Optical Technologies (June 2024) — value-added optical transceivers with proprietary software/firmware.
  • CloudRail GmbH (August 2023) — sensor-to-cloud data solutions for fast sensor-to-cloud connectivity.
  • Berthold Sichert GmbH (April 2023) — polycarbonate street cabinets for outside plant PON and 5G networks.
• Results from Precision and Sichert are included in Smart Infrastructure Solutions; results from Voleatech and CloudRail are included in Automation Solutions.

Customers and revenue concentration

• Sells through distributors, to end-users, installers, and OEMs.
• In 2025, the largest distributor accounted for approximately 14% of consolidated revenues; no other single customer exceeded 10%.
• The top eight distributors accounted for about 35% of 2025 revenues.

Markets and applications

• Primary markets: smart buildings (data centers, government, healthcare, hospitality, education, commercial real estate, financial institutions, stadiums/venues, military installations) and broadband solutions for broadband and wireless service providers.
• Emphasizes IT/OT convergence, asset digitization, and AI-enabled analytics to support customers’ digital transformations.

Global footprint and workforce

• Approximately 8,000 employees as of December 31, 2025.
• Geographic employee mix: ~26% in the United States, 3% in Canada, 10% in China, 4% in India, 25% in Mexico, and 30% in EMEA.
• Diversity: 39% of the workforce are women; 26% of senior management; 40% of the Board of Directors. In the U.S., 28% of the workforce are ethnically diverse; 30% of the Board is ethnically diverse.
• Corporate office located in St. Louis, Missouri.

Facilities and real estate

• Owns or leases manufacturing, warehousing, sales, and administrative space globally, plus the corporate office in St. Louis.
• As of December 31, 2025:
  • Manufacturing/operating facilities: 29 (13 in Smart Infrastructure Solutions, 6 in Automation Solutions, 10 shared).
  • Warehouses: approximately 5 worldwide.
  • Total facility space: approximately 6 million square feet.

Backlog and near-term visibility

• Backlog as of December 31, 2025: $567.7 million (versus $509.7 million at December 31, 2024).
• Almost all backlog as of 12/31/2025 is scheduled to ship in 2026, indicating strong near-term revenue visibility.

Intellectual property, branding, and compliance

• Owns numerous patents and trademarks; prominent brands include Belden, Alpha Wire, Hirschmann, Lumberg Automation, OTN Systems, PPC, ProSoft Technology, Thinklogical, and West Penn Wire.
• Actively manages use of open source software in products to control licensing obligations.

Summary

Belden is a two-segment, globally distributed provider of advanced network connectivity and digitization solutions, serving data centers, smart buildings, and industrial automation markets, with a history of acquisitions to broaden its portfolio, a diversified customer base, international operations, and substantial backlog providing near-term revenue visibility.