Company takeover
TE Connectivity takes over First Sensor
Sensor technology is a market of the future. TE Connectivity also recognizes this and will take over the Berlin-based sensor manufacturer First Sensor.
The acquisition is expected to be completed by 2020 at the latest, according to First Sensor's official company announcement. At the end of the first acceptance period of the public takeover offer, all non-regulatory offer conditions had been met. If the authorities approve the offer, as expected by all sides, the Berlin-based company will soon be part of the US group with around 80,000 employees.
First Sensor manufactures standard and customized sensors and sensor components for the industrial, medical and mobility sectors. The Management Board expects faster growth from the integration into the US group: "The planned merger with TE will enable us to accelerate our growth in an increasingly competitive global market environment. We can benefit from TE's technology and product leadership as well as its global reach," says Dr. Dirk Rothweiler - CEO of First Sensor - about the move.
TE Connectivity sees the medical sector as a growth market in which it wants to position itself more strongly. The slowdown in the automotive industry is playing a role here. The Executive Board expects sales of around 13.5 billion dollars for 2019.
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