TE Connectivity says it will become “the leading provider of highly engineered connectivity and sensor solutions” through its purchase of Measurement Specialties (MEAS). TE Connectivity is paying $1.7 billion, or $86 per share.
Measurement Specialties’ sensor technologies include pressure, vibration, force, temperature, humidity, ultrasonics, position and fluid, for a wide range of applications and industries. The company expects revenue of roughly $540 million this year. TE Connectivity is a $13 billion company.
“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,” said TE Connectivity Chairman and CEO Tom Lynch. The company said that the sensor market is large and getting larger at a rapid rate, but that it is currently fragmented.
Sensors will be an important part of the infrastructure that will enable an increasingly connected society. Several municipalities are already using sensors to better manage their communications infrastructure, as well as water and electricity.
Wireless and fixed networks are just one of the many markets that TE Connectivity addresses. The company designs and manufactures products for the automotive market, energy and industrial applications, consumer devices, healthcare, and the aerospace and defense industry.
TE Connectivity to buy Measurement Specialties for $1.7B
