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Publish Date : 23-Jun-2014

A world leader in connectivity, TE Connectivity Ltd., announced on 20 June 2014 that it entered into a definitive agreement to acquire Measurement Specialties, Inc. for $86 cash per share or a net deal worth of around $1.7 billion (including assumption of total debt).

A leading manufacturer and global designer of sensors and sensor-based systems, Measurement Specialties, with anticipated revenue of $540 million in its current financial year, offers a broad portfolio of sensor technologies including vibration, pressure, humidity, temperature, force, ultrasonics, position and fluid, for a broad range of industries and applications.

Tom Lynch, TE Connectivity Chairman and CEO said, "The acquisition of Measurement Specialties is a key part of our strategy to be a leader in the very attractive, high-growth sensor industry and adds nearly $40 billion to our addressable market. We are excited about this acquisition as it enables TE to provide customers with an unmatched range of connectivity and sensor solutions that are essential in a world where everything is increasingly connected. We look forward to combining Measurement Specialties' strong breadth of products and technologies with our deep customer relationships and global scale. We are also delighted to welcome their talented team to TE."

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