Market Overview

CTS Corp. Buys D&R for $63.5M

Related CTS
TE Connectivity to Acquire SEACON Group - Analyst Blog
AU Optronics Corp. (AUO) in Focus: Stock Moves 5.2% Higher - Tale of the Tape

CTS Corporation (NYSE: CTS) today announced the acquisition of D&R Technology (D&R), a privately-held company with annual sales of approximately $50 million. D&R is a leading manufacturer of custom designed sensors, switches and electromechanical assemblies primarily serving the automotive light-vehicle market. CTS acquired D&R for a cash purchase price of approximately $63.5 million. Management expects the transaction to be accretive to CTS' earnings in the first year.

The synergistic acquisition significantly expands CTS' strategic automotive sensor product platform with new customers and a broader product portfolio. The acquisition will also further diversify CTS' Components and Sensors segment and bring new growth opportunities from sensor applications for safety systems and vehicle chassis management. Additionally, D&R brings strong sensor design and development engineering capabilities to complement CTS' world-class engineering team.

Posted-In: News M&A


Most Popular

Related Articles (CTS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free