TTM Technologies Inc. (Nasdaq: TTMI) is buying Viasystems Group Inc. (Nasdaq: VIAS) is a deal valued at $927 million.

For each Viasystems share, TTM will pay $11.3, plus 0.706 TMI shares. That works out to about $368 million – the rest of the deal value is made up in assumed debt. TTM also identified at least $25 million in pre-tax cost synergies from combining sales and general administrative functions.

The combined company will manufacture printed circuit boards for the automotive, aerospace and defense, medical, industrial and instrumentation, cell phone and telecommunications markets.  TTM will now have about 30,000 employees and 28 manufacturing facilities worldwide.

TTM, headquartered in Costa Mesa, California, focuses on manufacturing printed circuit boards for the sub-system assembly business. St. Louis, Missouri-based Viasystems makes printed circuit boards and electro-mechanical products for electronic equipment.

J.P. Morgan acted as TTM's financial adviser, while Stifel provided financial advice to Viasystems.

In another recent circuit board-related acquisition, Key Tronic Corp. (Nasdaq: KTCC) purchased CDR Manufacturing Inc., which provides assembly services for printed circuit boards, in September. 

For more on the manufacturing sector, see Manufacturing Deals Reassemble 5 Significant Sectors.