TTM Technologies Inc., which is a Santa Ana-based contract manufacturer, saw a substantial rise in the share prices of the company on Monday. The hike came in response to the agreement made by the company to buy the $521 million business of Hong Kong’s Meadville Holdings Ltd. The Hong Kong-based company is into making printed circuit boards. The deal is supposed to be finalized in the first quarter and would be done in cash and stock.

In these kinds of acquisitions generally, the stock of the buyer company falls down but this is not the case with TTM Technologies. The market value rose by 8% to $525 million in after hour trading in New York. TTM had issued a statement that the sales would double once the deal gets closed. That is why the investors have sent the shares up.

In the year 2008, the sales of the company were about $600 million. Since June 2008 to June 2009, the revenue of the printed circuit board manufacturing company reached around $640 million. The Chief Executive of TTM Technologies, Kent Alder has said that the deal would prove to be beneficial for both the companies and would bring them good market value as well. Also, the client base will widen and that would bring in great market exposure to both the companies.

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