TE Connectivity acquires majority share of First Sensor AG
TE Connectivity has completed its public takeover of First Sensor. TE now holds 71.87% shares of the company.
First Sensor, founded as a technology startup in the early 1990s, is a global player in sensor technology. With its expertise in chip design and production, as well as microelectronic packaging, it develops and produces standard sensors and customer-specific sensor solutions in the fields of photonics, pressure and advanced electronics for applications within the industrial, medical and transportation markets.
It has six German locations along with development, production and sales sites in the US, Canada, China, the Netherlands, UK, France, Sweden and Denmark, along with a worldwide partner network.
In combining the First Sensor and TE portfolios, TE will be able to offer a broader product base, including sensors, connectors and systems plus capabilities that supports the growth strategy of TE’s sensors business and TE Connectivity as a whole. First Sensor provides market expansion opportunity with optical sensing applications for industrial, heavy truck and auto applications.
“The business combination with First Sensor is yet another milestone in TE Connectivity’s commitment to being a leader in the sensor space and continuing to provide customers with a high level of product innovation and service,” said John Mitchell, Senior Vice President and General Manager of TE’s sensors business. “The First Sensor team’s capabilities, as well as their products, strongly align with the markets we serve and create greater opportunity to serve our customers.”