Sensata Technologies to Acquire Sensor-NITE Group from Elex

Sensata Technologies Holding NV will acquire Sensor - NITE Group from Elex Group in a $325 million deal. The Sensor - NITE group manufactures high temperature sensors which are used in diesel and gasoline engines.

The Chief Executive of Sensata Technologies Tom Wroe said that Sensor – NITE’s leading market position, competitive cost structure and differentiated technology sets it apart from its competitors and is an ideal fit with Sensata's core Sensors business.

He added that this combination would provide a new technology platform and strong growth opportunities in powertrain systems they currently served. The deal is likely to be funded by cash, but there is a possibility of a debt based purchase. The deal will be closed in the third quarter as per Tom Wroe.

Sensata posted a first-quarter loss in April despite growth in revenue. The business also posted $ 135 million revenue in 2010 and is based in Tessenderlo Belgium. It has manufacturing operations in Sofia and Botevgrad. It was a unit of Texas Instruments Inc but was sold in 2006 for $ 3 billion to private investors group which included Bain Capital LLC.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Sensata Technologies, Inc.. (2019, February 24). Sensata Technologies to Acquire Sensor-NITE Group from Elex. AZoSensors. Retrieved on February 25, 2024 from https://www.azosensors.com/news.aspx?newsID=2808.

  • MLA

    Sensata Technologies, Inc.. "Sensata Technologies to Acquire Sensor-NITE Group from Elex". AZoSensors. 25 February 2024. <https://www.azosensors.com/news.aspx?newsID=2808>.

  • Chicago

    Sensata Technologies, Inc.. "Sensata Technologies to Acquire Sensor-NITE Group from Elex". AZoSensors. https://www.azosensors.com/news.aspx?newsID=2808. (accessed February 25, 2024).

  • Harvard

    Sensata Technologies, Inc.. 2019. Sensata Technologies to Acquire Sensor-NITE Group from Elex. AZoSensors, viewed 25 February 2024, https://www.azosensors.com/news.aspx?newsID=2808.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.