CTS Corporation 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.
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