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Subsequent Event
3 Months Ended
Apr. 02, 2023
Subsequent Events [Abstract]  
Subsequent Event Subsequent Events
On April 17, 2023, we acquired Berthold Sichert GmbH (Sichert) for approximately $98 million, which we funded with cash on hand. Sichert, based in Berlin Germany, designs and manufactures a portfolio of polycarbonate street cabinets utilized in outside plant passive optical networks (“PON”) and 5G networks. Sichert will be reported within the Enterprise Solutions segment.
On April 24, 2023, our Board of Directors authorized an additional $300.0 million under the share repurchase program. See Note 16.

On April 28, 2023, we sold our 51% ownership interest in Shanghai Hi-Tech Control System Co, Ltd to Hite for $0.9 million. The sale also includes $0.6 million of potential earnout payments. We deconsolidated the joint venture as of April 28, 2023. See Note 1.