YAGEO to acquire Schneider Electric’s industrial sensors business
YAGEO Corporation has entered into a binding commitment with Schneider Electric to acquire its Telemecanique Sensors business in an all-cash transaction valued at EUR 723 million.
The proposed transaction values Telemecanique Sensors’ business at an enterprise value of EUR 723 million. Schneider Electric will grant YAGEO a license to use the Telemecanique Sensors name, and YAGEO will also obtain the relevant sensor patents, a press release reads.
Telemecanique Sensors is a specialist in the design, development, and delivery of mission-critical electromechanical and electronic sensors. The company generated around EUR 280 million in revenue in 2021 with approximately 70% of its revenues in North America and Europe. Over the years Telemecanique Sensors has built a portfolio of sensing solutions including high-end limit switches, proximity sensors, and pressure sensors.
“We are delighted to welcome Telemecanique Sensors into YAGEO Group. The proposed acquisition will be a major milestone for YAGEO to further strengthen its position in the sensor market, which will be a significant growth driver for YAGEO,” says YAGEO Founder and Chairman Pierre Chen, in the press release. “We will be able to deliver an even more comprehensive product range for our customers from passive components to a broad range of high-end electronic components. YAGEO will have more than USD 600 million of annual revenue, which is around 14% of the revenue, across a wide selection of sensing products, creating a strong platform for our continued expansion.”
The completion of the proposed transaction is expected to occur in the coming months.