TE Connectivity (NYSE:TEL) announced today that it has completed its public takeover of First Sensor (XTRA:SIS) and now holds 71.87% shares of that company.
Berlin, Germany-based First Sensor was founded as a technology start-up in the early 1990s. It develops and produces standard and custom sensors for photonics, pressure and advanced electronics for applications within the industrial, medical and transportation markets. It has six German locations along with development, production and sales sites in the U.S., Canada, China, the Netherlands, Great Britain, France, Sweden and Denmark.
TE said the acquisition will enable it to broaden its product base of sensors, connectors and systems and add to capabilities that support its growth. First Sensor can help expand Schaffhausen, Switzerland-based TE’s market optical sensing applications for industrial, heavy truck and auto applications, according to TE.
“The business combination with First Sensor is yet another milestone in TE Connectivity’s commitment to being a leader in the sensor space and continuing to provide customers with a high level of product innovation and service,” said John Mitchell, SVP and GM of TE’s sensors business, in a news release. “The First Sensor team’s capabilities, as well as their products, strongly align with the markets we serve and create greater opportunity to serve our customers.”
