TE Connectivity Completes Acquisition of the SEACON Group
SCHAFFHAUSEN, Switzerland, June 30, 2014 /PRNewswire/ -- TE Connectivity Ltd. (NYSE: TEL) today announced that it has completed the acquisition of the SEACON group, a leading provider of underwater connector technology and systems. The SEACON group serves the military marine and sub-sea sectors for remotely operated vehicles (ROV) / autonomous underwater vehicles (AUV), oil and gas, environmental and oceanographic applications. The group will become part of TE's Industrial Solutions segment under the leadership of Terrence Curtin, president, Industrial Solutions, and will be integrated into the Aerospace, Defense and Marine business unit. TE previously announced the definitive agreement to acquire the SEACON group on April 2, 2014.
"The addition of the SEACON group combines their fiber optic capability, TE's cable product line and the power connector range from the Deutsch acquisition to create a leading product offering for undersea applications," said Terrence Curtin, president, TE Industrial Solutions. "The acquisition will enable us to accelerate our growth in the very attractive oil and gas sector by leveraging TE's scale and reach to serve more customers around the world."
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