Amphenol To Buy GE’s Advanced Sensors Business
Amphenol To Buy GE’s Advanced Sensors Business
Amphenol Corp. has agreed to acquire the Advanced Sensors business of diversified conglomerate General Electric Co. (GE) for about $318 million, subject to a post-closing working capital adjustment. Amphenol noted that Advanced Sensors’ sensor and sensor-based product offerings will be complementary to its core interconnect offering. The company expects the sale to close prior to the end of 2013.
St. Mary’s, Pennsylvania-based Advanced Sensors is a supplier of highly engineered sensors and sensor-based instruments. Advanced Sensors (AS) sells its products primarily to the transportation and automotive, medical, and other industrial markets. The business has facilities in North America, Europe, and Asia, and employs about 1,600 people worldwide.
“We believe that AS’ sensor and sensor-based product offerings are uniquely complementary to our core interconnect offering, and represent a significant long-term expansion opportunity driven by the increased use of both technologies in supporting electronics functionality across a broad set of applications and markets,” said Adam Norwitt, president and CEO of Amphenol. “We look forward in particular to the potential to deliver additional value-added solutions to our customers across a wide array of end markets.”
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