Amphenol completes acquisition of MTS Systems
Interconnect, antenna and sensor solutions provider, Amphenol Corporation, has completed its acquisition of MTS Systems Corporation. In connection with the close of the transaction, MTS common stock will cease to trade on the NASDAQ.
“We are excited to have completed our acquisition of MTS and to welcome the talented MTS team to the Amphenol family,” says R. Adam Norwitt, Amphenol’s President and CEO, in a press release. “The combined strength and breadth of our companies’ highly complementary sensor product portfolios will allow us to offer our customers an expanded array of innovative technologies across multiple end markets. We look forward to the new opportunities created by the collective strengths of Amphenol and MTS Sensors as we further capitalize on the long-term growth potential of the electronics revolution.” Amphenol expects the MTS Sensors business to add approximately USD 350 million in sales in the first twelve months after closing. As previously announced, Amphenol has entered into an agreement to sell the MTS Test & Simulation business to Illinois Tool Works. The agreed sale price for the transaction is USD 750 million. The sale of the Test & Simulation business is expected to close following the receipt of all required regulatory approvals. Until that time, Amphenol will account for and report the Test & Simulation business as a discontinued operation.