TE Connectivity plans to acquire ERNI Group
Connectivity and sensor specialist TE Connectivity announces that it has signed a definitive agreement to acquire ERNI Group AG.
The acquisition of ERNI complements TE’s broad connectivity product portfolio, particularly in high-speed and fine-pitch connectors for factory automation, automotive, medical and other industrial applications. The addition of ERNI will augment TE’s engineering and manufacturing footprint and capabilities in board connectivity and expands TE’s customer base and presence in several attractive market segments. “We are excited to welcome the ERNI team to TE,” says Vish Ananthan, senior vice president and general manager of TE’s Industrial business in a press release. “Combining TE’s industrial portfolio breadth, manufacturing scale and customer reach with ERNI’s market-leading products, deep technical expertise and manufacturing capabilities in Europe and Southeast Asia, we can significantly enhancethe value we bring to our customers. Together, we will drive innovation related to miniaturization, signal integrity, higher data speed and power requirements and product reliability that our customers expect as they design their applications.” “With TE,ERNI gains access to a worldwide sales network and in-depth technological know-how,” adds Dr. Christoph Weiss, delegate of the board of directors of ERNI. “We highly appreciate the strong commitment of TE to continue to innovate on our product portfolio and are looking forward to a promising future.” The transaction is expected to close by the end of the current quarter, following the receipt of customary regulatory approvals.