Wallingford connector and cable maker Amphenol Corp. will buy MTS Systems Corp., a Minnesota company that makes testing and simulation hardware, for $1.7 billion.
The acquisition will allow Amphenol to add MTS’ sensor-based products to the Wallingford manufacturer’s offerings, as the company continues its strategy of leaning into sensor technology, Amphenol CEO Adam Norwitt said.
“We have long admired MTS’s technology and position across a variety of attractive end markets,” Norwitt said. “We are extremely excited about the strength of our combined product portfolio which will enable us to offer even more innovative technologies.”
Acquiring MTS could position Amphenol as a player in the growing sensor technology industry, Norwitt said, and Amphenol thinks the sector’s growth has long-term potential.
The transaction, which was unanimously approved by the boards of both companies, is expected to close by the middle of next year.
