Wallingford cable and connector manufacturer Amphenol Corp. said it has reached an agreement to purchase General Electric’s advanced sensors business unit for $318 million.
The GE unit is based in St. Mary’s, Penn., and employs 1,600 people at facilities in North America, Europe and Asia, Amphenol said.
The sensors business sells its products to the transportation, automotive and medical markets.
“We believe that AS’ sensor and sensor-based product offerings are uniquely complementary to our core interconnect offering, and represent a significant long-term expansion opportunity driven by the increased use of both technologies in supporting electronics functionality across a broad set of applications and markets,” R. Adam Norwitt, president and CEO of Amphenol, said in a statement.
Amphenol had 41,600 employees and annual net sales of $4.29 billion as of Dec. 31, 2012.
The company didn’t disclose details of the sensor unit’s financials today, saying there would be more information shared in Amphenol’s fourth-quarter earnings call in January.
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