SCHAFFHAUSEN, Switzerland,
March 12, 2020 /PRNewswire/
-- 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. It has six German
locations along with development, production and sales sites in the
USA, Canada, China, the
Netherlands, Great Britain,
France, Sweden and Denmark, along with a worldwide partner
network.
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. First Sensor provides
market expansion opportunity with optical sensing applications for
industrial, heavy truck and auto applications.
"The business combination with First Sensor is yet another
milestone in TE Connectivity's commitment to being a leader in the
sensor space and continuing to provide customers with a high level
of product innovation and service," said John Mitchell, senior vice president and general
manager of TE's sensors business. "The First Sensor team's
capabilities, as well as their products, strongly align with the
markets we serve and create greater opportunity to serve our
customers."
For more information on TE Connectivity's expertise in the
sensor market, please visit te.com. To learn more about First
Sensor, visit first-sensor.com.
About TE Connectivity
TE Connectivity
Ltd. (NYSE: TEL) is a $13
billion global industrial technology leader creating a
safer, sustainable, productive, and connected future. Our broad
range of connectivity and sensor solutions, proven in the harshest
environments, enable advancements in transportation, industrial
applications, medical technology, energy, data communications, and
the home. With nearly 80,000 employees, including more than 8,000
engineers, working alongside customers in approximately 150
countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at
http://www.te.com/ and on LinkedIn, Facebook, WeChat and
Twitter.
About First Sensor
Founded as a technology start-up in
the early 1990s, today, First Sensor is a global player in sensor
technology. With our expertise in chip design and production as
well as microelectronic packaging, we develop and produce standard
sensors and customer-specific sensor solutions in the fields of
photonics, pressure and advanced electronics for the ever-growing
demand in key applications for the target markets of Industrial,
Medical and Mobility. With around 1,000 employees, we are
represented at six German locations and also have development,
production and sales sites in the USA, Canada,
China, the Netherlands, Great Britain, France, Sweden and Denmark along with a worldwide partner
network. First Sensor AG has been listed in the Prime Standard
segment on the Frankfurt Stock Exchange since 1999. For more
information please visit www.first-sensor.com.
TE Connectivity, TE and the TE connectivity (logo), EVERY
CONNECTION COUNTS, are trademarks. Other company and/or product
names might be trademarks of their respective owners.
Disclaimer
This announcement is neither an offer to
purchase nor a solicitation of an offer to sell shares of First
Sensor AG (the "Company"). The definite terms and conditions of the
public takeover offer, as well as further provisions concerning the
public takeover offer, are published in the offer document, the
publication of which has been permitted by the German Federal
Financial Supervisory Authority (BaFin). Investors and holders of
shares in the Company are strongly advised to read the offer
document and all other relevant documents regarding the public
takeover offer when they become available, since they will contain
important information. The public takeover offer has been issued
exclusively under the laws of the Federal Republic of Germany, in particular according to the German
Securities Acquisition and Takeover Act (Wertpapiererwerbs- und
Übernahmegesetz) and certain applicable provisions of U.S.
securities law. The public takeover offer documentation has
additionally been published at www.sensor-offer.com. Any contract
that is concluded on the basis of the public takeover offer will be
exclusively governed by the laws of the Federal Republic of
Germany and is to be interpreted
in accordance with such laws.
To the extent permissible under applicable law or regulation, TE
Connectivity Sensors Germany Holding AG and its affiliates or
brokers (acting as agents TE Connectivity Sensors Germany Holding
AG or its affiliates, as applicable) may from time to time, during
or after the period in which the public takeover offer remains open
for acceptance, and other than pursuant to the public takeover
offer, directly or indirectly purchase, or arrange to purchase,
shares of the Company, that may be the subject of the public
takeover offer, or any securities that are convertible into,
exchangeable for or exercisable for shares of the Company. Any such
purchases, or arrangements to purchase, will comply with all
applicable German rules and regulations and Rule 14e-5 under the
U.S. Securities Exchange Act to the extent applicable. Information
about such purchases will be disclosed in Germany to the extent required by applicable
law. To the extent information about such purchases or arrangements
to purchase is made public in Germany, such information also will be deemed
to be publicly disclosed in the United
States. In addition, the financial advisors to TE
Connectivity Sensors Germany Holding AG may also engage in ordinary
course trading activities in securities of the Company, which may
include purchases or arrangements to purchase such securities.
With respect to U.S. holders, please note that the public
takeover offer is subject to disclosure and other procedural
requirements, including with respect to the public takeover offer
timetable, settlement procedures, withdrawal, waiver of conditions
and timing of payments, that are different from those applicable
under U.S. domestic tender offer procedures and laws. In addition,
the receipt of cash pursuant to the public takeover offer by a U.S.
holder of the Company's shares may be a taxable transaction for
U.S. federal income tax purposes and under applicable state and
local, as well as foreign and other tax laws. Each holder of
Company shares is urged to consult his independent professional
advisor regarding the tax consequences of accepting the public
takeover offer. Neither the U.S. Securities and Exchange Commission
nor any securities commission of any state of the United States has (a) approved or
disapproved the public takeover offer or (b) passed upon the merits
or fairness of the public takeover offer. Any representation to the
contrary is a criminal offence in the
United States.
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SOURCE TE Connectivity Ltd.