Amphenol Corporation announced its acquisition of GE's Advanced Sensors (AS) business for USD318 million. The deal is subject to customary closing conditions and certain regulatory approvals. The sale is expected to close before the year ends. This was according to a press release published by MarketWatch.
Amphenol will provide more details on the acquisition of AS at its regular quarterly earnings call on January 22, 2014, the report added.
Advanced Sensors is a company that supplies sensor-based instruments and highly engineered sensors. The firm caters mainly to the medical, industrial, automotive, and transportation arena. AS is based in St. Mary's, Pennsylvania. The company employs 1,600 people across North America, Asia, and Europe, said the report.
Amphenol is a manufacturer of interconnect systems, electronic and fiber optic connectors, coaxial, antennas, and high-speed specialty cable. The company has facilities in Asia, Australia, Europe, Africa, and the Americas. Amphenol markets its products through its own sales team and a worldwide network of distributors, MarketWatch reported.
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