November 28, 2018

Amphenol to pay $400M for Wisc. sensor maker

PHOTO | Contributed
PHOTO | Contributed
Amphenol's oval contact system connector is one of its many products.

Wallingford electronic interconnect manufacturer Amphenol Corp. said it's agreed to buy a Wisconsin-based sensor maker for $400 million.

Amphenol announced Tuesday it intends to purchase the 900-employee SSI Controls Technologies from parent company SSI Technologies Inc. by early next year, subject to regulatory approvals.

SSI sells its products to the automotive and industrial markets — two of Amphenol's own end markets.

"We believe that SSI's product offerings are uniquely complementary to our 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 CEO R. Adam Norwitt said in a statement.

SSI Controls, which also has operations in the Czech Republic, has annual sales of about $180 million, Amphenol said.

Amphenol, which manufactures electronic and fiber optic connectors, antennas, specialty cable and other products, expects the SSI deal to boost its earnings within the first year. Amphenol's largest-ever acquisition took place in 2016, a $1.28 billion deal for a Singapore-based competitor.

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