Sensata To Buy Sensing Portfolio Of Custom Sensors & Technologies In $1 Bln Deal

(RTTNews) - Sensata Technologies Holding N.V. (ST) said it has reached an agreement to acquire the sensing portfolio of Custom Sensors & Technologies, Inc. for a total enterprise value of $1.0 billion.

Including interest and integration expenses, the company expects this acquisition to be breakeven to adjusted net income in the first full year and to be $0.23 to $0.26 accretive to adjusted net income per share in the third year.

The acquisition includes the Kavlico, BEI, Crydom and Newall product lines and brands and includes sales, engineering and manufacturing sites in the U.S., the United Kingdom, Germany, France, China and Mexico.

Revenue for the business being acquired was approximately $320 million during the last 12 months. The transaction is subject to customary regulatory approvals and is expected to close in the fourth quarter of 2015 or early 2016.