Wallingford-based manufacturer Amphenol Corp. has purchased Halo Technology Limited for approximately $715 million, Amphenol announced Wednesday.
Halo, which is based in California, makes fiber-optic interconnect components. Halo anticipates its 2021 sales to be in the vicinity of $250 million.
Amphenol has locations around the world, and it makes products such as electronic and fiber-optic connectors and high-speed specialty cable. Its customers are in an array of industries, such as aerospace, military, automotive and broadband communications.
R. Adam Norwitt, Amphenol’s president and CEO, said Halo’s product offerings are complementary to Amphenol’s existing high-speed and fiber-optic interconnect solutions.
He anticipates the deal will mean a “significant long-term growth opportunity” for Amphenol.
“Halo’s high-technology products strengthen our offering to IT and data communications, mobile networks and broadband customers, all of whom are upgrading their systems and networks to manage increased data traffic,” Norwitt said, in an announcement.
“We look forward to working closely with Halo’s experienced management team to deliver a broader range of interconnect solutions to our customers around the world,” he added.
Amphenol has been making multiple strategic acquisitions in recent months. Earlier this year, it acquired Positronic, a Missouri-based manufacturer of electronic connector products.
The company completed its $1.7 billion acquisition of Minnesota sensor-technology company MTS Systems Corp. in April. Amphenol agreed to sell MTS’ testing and simulation business to Illinois Tool Works Inc. for $750 million. Amphenol indicated this week that sale has been finalized.
Amphenol’s stock was trading at $81.80 per share as of Thursday afternoon. In the past 12 months, its stock has reached a high of $86.05 and low of $58.58, according to Nasdaq.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
