TE Connectivity signs a definitive to acquire Intercontec Group
– Expands Harsh Connectivity Solutions Portfolio –
– Strengthens Position In Factory Automation and Machinery Markets –
SCHAFFHAUSEN, Switzerland – July 20, 2016 – TE Connectivity (TE), a world leader in connectivity and sensors, today announced the signing of a definitive agreement to acquire the Intercontec Group. The transaction is expected close end of September 2016, following the completion of customary regulatory approvals and the finalization of various administrative matters.
Intercontec is a privately owned manufacturer of circular metric connectors. Founded in Bavaria, Germany in 1996 by current CEO Wolfgang Pfeiffer, the company has headquarters in Niederwinkling and a total of four production plants in Germany. Intercontec has an established reputation as an innovation leader in hybrid connectors, quick lock systems, rotatable servo-side connectors, and reliable EMC and IP performance.
The acquisition represents an important step in TE becoming a full solution provider, particularly for factory automation and machinery customers. TE will broaden its harsh connectivity portfolio especially in industrial power and signal connectors with the addition of Intercontec’s complementary circular metric connectors alongside TE’s own circular and rectangular heavy duty connectors. Combining the capabilities of the two companies will accelerate TE’s ability to offer customers some of the most comprehensive products, technologies and services within the industry.
Thomas Schmidt, president and general manager of TE Industrial Equipment business unit, comments: “Intercontec is one of the most innovative industrial connector companies in the last 20 years, with a team of highly-qualified engineers and a solid performance record in the industrial automation market. Our complementary product portfolios and way of working make Intercontec the perfect fit for TE’s growth strategy and for strengthening support for our customers and markets. By joining TE, Intercontec will gain access to the global market, global customers and distribution partners beyond Europe, particularly through TE’s customer relationships in Asia and North America. In the meantime, the acquisition will also expand TE’s access to the machinery and electrical channel in Europe.”
Wolfgang Pfeiffer, CEO of Intercontec Group comments: “Joining TE is the right step in Intercontec’s evolution that will result in new opportunities for our employees and customers. With TE’s comprehensive product portfolio behind us and the innovation and engineering strength of a global large-scale company, we will be able to improve our future competitiveness globally while retaining the superior service level customers expect from Intercontec.”
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ABOUT TE CONNECTIVITY
TE Connectivity (NYSE: TEL) is a $12 billion global technology leader. Our connectivity and sensor solutions are essential in today’s increasingly connected world. We collaborate with engineers to transform their concepts into creations – redefining what’s possible using intelligent, efficient and high-performing TE products and solutions proven in harsh environments. Our 72,000 people, including 7,000 design engineers, partner with customers in close to 150 countries across a wide range of industries. We believe EVERY CONNECTION COUNTS – www.TE.com.
