Telecom Lead Switzerland: TE Connectivity has completed
the acquisition of Deutsch Group SAS. The acquisition will significantly expand
TE’s product portfolio.
Furthermore, the acquisition will enable the Company to
better serve customers in the Industrial and Commercial Transportation,
Aerospace and Defense, and Rail markets.
“Deutsch has a long history of leadership and
innovation and its complementary product line will enable TE to offer the most
complete range of connectivity solutions to our customers,” said Tom
Lynch, Chief Executive Officer of TE Connectivity.
The transaction of the acquisition is valued at 1.55
billion euro (approximately $2.05 billion at current exchange
rates).
Furthermore, the transaction is expected to add on to the
Company’s adjusted earnings by approximately $0.20 per share in
fiscal 2013, excluding acquisition-related costs.
For reporting purposes, Deutsch will be included as part
of TE’s Transportation Solutions segment.
TE will provide an update to its fiscal 2012 outlook,
including the impact of the acquisition of Deutsch, on its fiscal second
quarter earnings call to be held on April 25, 2012.
“Together, our broad product range, global presence
and shared commitment to innovation will create an even greater opportunity to
serve the growing market for harsh environment connectivity applications,”
Lynch added.
Recently, Chorus New Zealand awarded TE Connectivity a contract worth $67 million over a
four-year period, with an option to extend the contract for an additional two
years.
editor@telecomlead.com