In a move to combine its leadership in connectivity and sensors with ERNI Group AG’s top standing in electronic connectivity for factory automation and automotive, TE has signed a definitive agreement for the acquisition of ERNI.
The buyout complements TE’s broad connectivity product portfolio, particularly in high-speed and fine-pitch connectors for factory automation, automotive, medical and other industrial applications. ERNI can augment TE’s engineering and manufacturing footprint and capabilities in board connectivity and expand TE’s customer base and presence in several attractive market segments.
“We are excited to welcome the ERNI team to TE,” said Vish Ananthan, Senior Vice President and General Manager of TE’s Industrial business. “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 enhance the 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.”
According to Dr. Christoph Weiss, Delegate of the Board of Directors of ERNI, with TE’s acquisition, ERNI gains access to a worldwide sales network and in-depth technological know-how. “We highly appreciate the strong commitment of TE to continue to innovate on our product portfolio and are looking forward to a promising future,” he continued.
The transaction is expected to close by the end of the current quarter, following the receipt of customary regulatory approvals.