Electrical and cable products manufacturer Amphenol Corp. has announced it has agreed to acquire SSI Controls Technologies, the SSI Technologies, Inc. sensor manufacturing division, for approximately USD 400m, the company said.
The transaction includes a performance-related contingent payment. The transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to close by early 2019.
Amphenol said SSI´s product offerings are uniquely complementary to the company´s existing offerings and represent a significant long-term growth opportunity driven by the expansion of electronics across a broad set of applications in the automotive and industrial markets.
Amphenol will provide further information regarding the acquisition at its regularly scheduled quarterly earnings call to discuss Fourth Quarter earnings scheduled for January 23, 2019.
Amphenol Corp. (NYSE: APH) has a diversified presence as a leader in high growth areas of the interconnect market including: aerospace, automotive, broadband communications, commercial , industrial, information technology and data communications, military, mobile devices and mobile networks.
Amphenol Corp. is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed specialty cable. Amphenol designs, manufactures and assembles its products at facilities in the Americas, Europe, Asia, Australia and Africa and sells its products through its own global sales force, independent representatives and a global network of electronics distributors.
SSI is a leading designer and manufacturer of sensors and sensing solutions for the global automotive and industrial markets, with annual sales of approximately USD180 m. Headquartered in Janesville, Wisconsin, SSI operates manufacturing facilities in Wisconsin, USA, as well as in the Czech Republic, and employs approximately 900 people worldwide.