TE Connectivity acquires American Sensor Technologies
TE Connectivity Ltd. of Switzerland announced it made its second purchase of a sensor maker in fewer than four months when it closed on a deal to buy American Sensor Technologies Inc.
The New Jersey-based company is a manufacturer of pressure and position sensing solutions, according to a news release. It reported about $20 million in revenue in 2013.
A price for the deal was not announced.
The company specializes in manufacturing products using their own proprietary technologies for use in high-performance, harsh and extreme environments.
The acquisition follows a June deal in which TE bought Virginia-based Measurement Specialties Inc. for $1.7 billion. That company also manufacturers sensors for extreme environments and conditions.
In April, TE agreed to buy Sea Con Group of California for $490 million. The company works on connectivity solutions in underwater environments.
TE has engineering and administrative officers in Central Pennsylvania. The company entered the local marketplace in 1998 as Tyco International when it acquired AMP. Tyco spun off Tyco Electronics Ltd., which became TE Connectivity in 2011.
It trades on the New York Stock Exchange under the ticker symbol TEL.