|[November 27, 2018]
Amphenol Corporation Announces Definitive Agreement to Acquire SSI Controls Technologies
Amphenol (News - Alert) Corporation (NYSE: APH) announced today that it has entered
into a definitive agreement to acquire SSI Controls Technologies
("SSI"), the sensor manufacturing division of SSI Technologies, Inc.,
for approximately $400 million (subject to customary closing
adjustments) plus a performance-related contingent payment. The
transaction is subject to certain regulatory approvals and other
customary closing conditions and is expected to close by early 2019.
SSI is a leading designer and manufacturer of sensors and sensing
solutions for the global automotive and industrial markets, with annual
sales of approximately $180 million. Headquartered in Janesville,
Wisconsin, SSI operates manufacturing facilities in Wisconsin, USA, as
well as in the Czech Republic, and employs approximately 900 people
"We are extremely pleased to announce this agreement to add SSI to the
Amphenol family," said R. Adam Norwitt, Amphenol's President and CEO.
"We believe that SSI's product offerings are uniquely complementary to
our existing offerings and represent a significant long-term growth
opportunity driven by the expansion of electronics across a broad set of
applications in the automotive and industrial markets. We look forward
to woking in partnership with SSI's experienced management team to
deliver additional high technology solutions to our customers."
"Consistent with our acquisition strategy and assuming a continuation of
current economic conditions, we expect the SSI acquisition to be
accretive to earnings per share in the first year post acquisition."
Amphenol will provide further information regarding the acquisition at
its regularly scheduled quarterly earnings call to discuss Fourth
Quarter earnings scheduled for January 23, 2019.
Amphenol Corporation is one of the world's largest designers,
manufacturers and marketers of electrical, electronic and fiber optic
connectors, interconnect systems, antennas, sensors and sensor-based
products and coaxial and high-speed specialty cable. Amphenol designs,
manufactures and assembles its products at facilities in the Americas,
Europe, Asia, Australia and Africa and sells its products through its
own global sales force, independent representatives and a global network
of electronics distributors. Amphenol has a diversified presence as a
leader in high growth areas of the interconnect market including:
Automotive, Broadband Communications, Commercial Aerospace, Industrial,
Information Technology and Data Communications (News - Alert), Military, Mobile Devices
and Mobile Networks.
Statements in this press release which are other than historical facts
are intended to be "forward-looking statements" within the meaning of
the Securities Exchange Act of 1934, the Private Securities Litigation
Reform Act of 1995 and other related laws. While the Company believes
such statements are reasonable, the actual results and effects could
differ materially from those currently anticipated. Please refer to Part
I, Item 1A of the Company's Form 10-K for the year ended December
31, 2017, for some factors that could cause the actual results to differ
from estimates. In providing forward-looking statements, the Company is
not undertaking any duty or obligation to update these statements
publicly as a result of new information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181127005172/en/
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