Posted in | News | Automotive Sensors

CTS Strengthens Position in Automotive Sensors Through D+R Technology Acquisition

CTS Corporation 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.

D&R, founded in 1998, operates Lean Manufacturing facilities in Carol Stream, Illinois and Juarez, Mexico, with approximately 400 employees. D&R specializes in building advanced technology products that provide industry-leading and application-specific solutions. Key products include non-contacting chassis height position sensors, seat belt tension sensors, seat belt buckle switches and anti-lock braking system (ABS) wheel speed sensors. Newer products currently growing include seat track position sensors and current sensors for electric and hybrid vehicles. D&R has been widely recognized by customers for quality performance, including Flawless Launch Awards.

Vinod Khilnani, CTS Chairman and Chief Executive Officer, stated, “This is a significant strategic acquisition for CTS. We are delighted to welcome D&R into the CTS family. It is an excellent fit and a synergistic addition to our faster growing Components and Sensors segment, bringing exciting new growth opportunities.”

Citations

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

  • APA

    CTS Corporation. (2019, February 24). CTS Strengthens Position in Automotive Sensors Through D+R Technology Acquisition. AZoSensors. Retrieved on June 23, 2024 from https://www.azosensors.com/news.aspx?newsID=5263.

  • MLA

    CTS Corporation. "CTS Strengthens Position in Automotive Sensors Through D+R Technology Acquisition". AZoSensors. 23 June 2024. <https://www.azosensors.com/news.aspx?newsID=5263>.

  • Chicago

    CTS Corporation. "CTS Strengthens Position in Automotive Sensors Through D+R Technology Acquisition". AZoSensors. https://www.azosensors.com/news.aspx?newsID=5263. (accessed June 23, 2024).

  • Harvard

    CTS Corporation. 2019. CTS Strengthens Position in Automotive Sensors Through D+R Technology Acquisition. AZoSensors, viewed 23 June 2024, https://www.azosensors.com/news.aspx?newsID=5263.

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

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.