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TE Connectivity wants to buy Intercontec
TE Connectivity, a global provider of connectivity solutions and sensors, has signed a takeover agreement with the Intercontec Group. The transaction is expected to be completed by the end of September.
Intercontec is a privately owned manufacturer of metric circular connectors. Founded in 1996 by current CEO Wolfgang Pfeiffer in Bavaria, the company is based in Niederwinkling and operates four production sites in Germany.
For TE, the takeover represents an important step towards becoming a complete solution provider specifically for customers in the mechanical engineering sector. The company intends to expand its portfolio of solutions for harsh environments, particularly in the areas of industrial power and signal connectors. With the acquisition, TE's own circular connectors and heavy-duty rectangular connectors will be complemented by Intercontec's metric circular connectors.
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