Wallingford connector and cable manufacturer Amphenol Corp. said it has completed its $1.7 billion acquisition of Minnesota sensor-technology company MTS Systems Corp.
The deal was finalized on Wednesday.
Amphenol President and CEO R. Adam Norwitt told the Hartford Business Journal in January that the acquisition would allow Amphenol to add MTS’ sensor-based products as the company continues its strategy of leaning into sensor technology.
“We look forward to the new opportunities created by the collective strengths of Amphenol and MTS Sensors as we further capitalize on the long-term growth potential of the electronics revolution,” he said in an announcement this week.
As part of the deal, first announced in December, MTS will sell off its testing and simulation business for $750 million to Illinois Tool Works Inc., pending regulatory approval.
Amphenol said it expects the MTS Sensors business to add roughly $350 million in sales in the first 12 months after closing.
Contact Natalie Missakian at news@newhavenbiz.com
