First Sensor merges with TE Connectivity Sensor
TE Connectivity Ltd. (NYSE: TEL) completed its public takeover of First Sensor AG.
TE Connectivity Ltd. (NYSE: TEL), a global industrial technology company with leading positions in connectivity and sensing solutions, completed its public takeover of First Sensor AG (XTRA: SIS). TE now holds 71.87% shares of First Sensor. First Sensor, founded as a technology start-up in the early 1990s, is a global player in sensor technology. With its expertise in chip design and production, as well as microelectronic packaging, it develops and produces standard sensors and customer-specific sensor solutions in the fields of photonics, pressure and advanced electronics for applications within the industrial, medical and transportation markets. In combining the First Sensor and TE portfolios, TE will be able to offer an even broader product base, including innovative, market-leading sensors, connectors and systems plus best-in-class capabilities, that supports the growth strategy of TE’s sensors business and TE Connectivity as a whole.
Freshfields Bruckhaus Deringer were legal advisers to TE Connectivity and Blomstein and Görg acted as legal adviser to First Sensor.