TE Connectivity acquires majority share of First Sensor AG

TE Connectivity acquires majority share of First Sensor AG

TE Connectivity (Switzerland, Germany) - Press Release: TE Connectivity Ltd. (NYSE: TEL), a global industrial technology company with leading positions in connectivity and sensing solutions, completed its public takeover of First Sensor AG (XTRA: SIS). TE now holds 71.87% shares of First Sensor.

First Sensor, founded as a technology start-up in the early 1990s, is a global player in sensor technology. With its expertise in chip design and production, as well as microelectronic packaging, it develops and produces standard sensors and customer-specific sensor solutions in the fields of 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 USA, Canada, China, the Netherlands, Great Britain, France, Sweden and Denmark, along with a worldwide partner network.

In combining the First Sensor and TE portfolios, TE will be able to offer an even broader product base, including innovative, market-leading sensors, connectors and systems plus best-in-class capabilities, that supports the growth strategy of TE's sensors business and TE Connectivity as a whole. First Sensor provides market expansion opportunity with optical sensing applications for industrial, heavy truck and auto applications.

"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, senior vice president and general manager of TE's sensors business. "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."

 

About TE Connectivity:

TE Connectivity Ltd. (NYSE: TEL) is a $13 billion global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions, proven in the harshest environments, enable advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With nearly 80,000 employees, including more than 8,000 engineers, working alongside customers in approximately 150 countries, TE ensures that EVERY CONNECTION COUNTS.

About First Sensor:

Founded as a technology start-up in the early 1990s, today, First Sensor is a global player in sensor technology. With our expertise in chip design and production as well as microelectronic packaging, we develop and produce standard sensors and customer-specific sensor solutions in the fields of photonics, pressure and advanced electronics for the ever-growing demand in key applications for the target markets of Industrial, Medical and Mobility. With around 1,000 employees, we are represented at six German locations and also have development, production and sales sites in the USA, Canada, China, the Netherlands, Great Britain, France, Sweden and Denmark along with a worldwide partner network. First Sensor AG has been listed in the Prime Standard segment on the Frankfurt Stock Exchange since 1999.

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