SCHAFFHAUSEN, Switzerland — TE Connectivity Ltd. (NYSE: TEL) today announced the completion of the acquisition of Deutsch Group SAS. The transaction is valued at 1.55 billion euro (approximately $2.05 billion at current exchange rates) and is expected to be accretive to the Company's adjusted earnings by approximately $0.20 per share in fiscal 2013, excluding acquisition-related costs.
The acquisition of Deutsch, a leading provider of high-performance connectivity solutions for harsh environment applications, will significantly expand TE's product portfolio and enable the Company to better serve customers in the Industrial and Commercial Transportation, Aerospace and Defense, and Rail markets.
“We are excited to bring together TE and Deutsch, two of the most trusted names in our industry. Deutsch has a long history of leadership and innovation and its complementary product line will enable TE to offer the most complete range of connectivity solutions to our customers,” said Tom Lynch, Chief Executive Officer of TE Connectivity. “Together, our broad product range, global presence and shared commitment to innovation will create an even greater opportunity to serve the growing market for harsh environment connectivity applications.”
For reporting purposes, Deutsch will be included as part of TE's Transportation Solutions segment.
TE will provide an update to its fiscal 2012 outlook, including the impact of the acquisition of Deutsch, on its fiscal second quarter earnings call to be held on April 25, 2012.