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Benchmark Electronics

(BHE) - Get Benchmark Electronics, Inc. Report

agreed to pay $211 million in stock for

Pemstar

TheStreet Recommends

( PMTR).

Pemstar holders will get 0.16 Benchmark share for each Pemstar share held.

The transaction values Pemstar at $4.63 per common share, a 27% premium to Monday's closing price.

The deal is expected to close in the first quarter.

"Pemstar's strengths in design engineering and systems integration, as well as its global footprint, complement our existing growing business," Benchmark said.