© Schleuniger Group
Business |
Schleuniger Group acquires the business of US-based Cirris Systems Corp.
Following many years of cooperation, the Schleuniger Group and Cirris Systems Corp. have signed an agreement for Schleuniger to acquire Cirris, based in Salt Lake City, Utah, on the basis of an asset deal.
The transaction is expected to be concluded in the third quarter of 2020 and the new company Cirris Inc. will take over most of the assets of Cirris Systems Corp.
“With the acquisition of Cirris, Schleuniger is further extending its market lead in testing of cables, harnesses and connectors. Together with adaptronic Prüfsysteme and Schleuniger Test Automation, both located in Germany, we have now fully realized our strategic main direction of “Best in Test” and our ambition to be the global number one in technology, application and industry coverage,” says Christoph Schüpbach, CEO of the Schleuniger Group, in a press release.
The purchase of Cirris represents an important investment in a key growth segment for Schleuniger, further expanding the group’s broad testing portfolio following the January 2018 acquisition of a controlling majority stake in testing equipment manufacturer adaptronic Prüftechnik GmbH of Wertheim, Germany, as well as the May 2015 purchase of test automation solutions provider Cirris Solutions GmbH (now Schleuniger Test Automation GmbH) of Jettingen, Germany.
Cirris Systems complements the product portfolios and market coverage of adaptronic and Schleuniger Test Automation and opens up the North American market for testing and test automation. It also reduces Schleuniger’s dependency on the automotive industry as Cirris generates the vast majority of its sales outside this industry.
“We are excited to become a part of the Schleuniger Group after many years of sales and technology cooperation. Our product and service offerings complement the already extensive testing portfolio of the Schleuniger Group, and this acquisition offers us the chance to expand even more rapidly as part of the global Schleuniger organization. And no less important for a successful future together: We also see a great fit between our corporate cultures and values, and we look forward to joining the Schleuniger family,” says Craig Taylor, President & CEO of Cirris Systems, who will remain in his current position at the new Cirris Inc.
