Jabil buys $145 million firm

ST. PETERSBURG — Jabil Circuit Inc. will acquire Telmar Network Technology Inc., a communications network support provider based in Texas. Financial terms were not disclosed.

Adding Telmar will strengthen Jabil's aftermarket service offerings, and diversifies the St. Petersburg-based manufacturer's business, says Hartmut Liebel, an executive vice president with the firm. Telmar earned $145 million in revenues in 2010.

Jabil generated $13.4 billion in revenues in its most recently completed fiscal year, which ended Aug. 31. Its stock price is up 1.6% following today's announced acquisition, and is up 41% over the past year, to slightly more than $15 a share.

Its acquisition of Telmar is expected to be completed in November.