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Market Overview

Sensata Acquires Xirgo For $400M

  • Sensata Technologies Holding Plc (NYSE: STacquired telematics and data insight provider Xirgo Technologies Intermediate Holdings, LLC for $400 million, or 16 times its 2021 EBITDA.
  • Xirgo’s annual revenue is estimated to cross $100 million in 2021, with expected revenue growth of over 20% in the next several years.
  • The transaction will be EPS accretive in 2021.
  • The acquisition will play a vital role in advancing Sensata’s Smart & Connected megatrend-focused growth initiative in the transportation and logistics end-markets. It will help Sensata expand beyond OEMs and address the broader fleet ecosystem, thereby doubling its total addressable market to $15 billion by 2030.
  • Sensata’s operating cash flow slipped 9.6% to $559.8 million, and debt financing rose by 156% to $1.15 billion in the fourth quarter of FY20.
  • Price action: ST shares are up 2.90% at $57.90 in the pre-market session on the last check Friday.

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