TE Connectivity acquires German sensor supplier Sensor First

According to foreign media reports, the German subsidiary of connector and sensor supplier TE Connectivity recently (June 3, 2019) announced that it will acquire German sensor supplier First Sensor AG. According to the terms of the acquisition of First Sensor shares, TE will acquire 28.25 euros per share in cash, with a total amount of approximately US$343 million. The acquisition is expected to be completed by mid-2020 at the latest.

The acquisition of First Sensor will consolidate TE's global leadership in the field of sensors, especially in industrial, medical and transportation applications. Once completed, the transaction will combine First Sensor's solutions (including low-voltage sensing and photonics) with TE's operations, customer base and existing sensor technology to provide customers with more comprehensive integrated sensor solutions.

"Combining First Sensor's products and customer base with TE's widely deployed sensor product portfolio will provide additional application solutions for customers in TE's key growth industries." said Terrence Curtin, CEO of TE. "As a global industrial technology leader, we are seeking an increasingly broad range of integrated sensor solutions with our existing and potential customers to meet their growing connectivity needs. The combination of the complementary technologies and engineering expertise of the two companies will enable us to further enhance our strategic deployment in the industrial, medical and transportation markets."

"The business combination agreement announced today with TE represents an exciting new chapter for First Sensor, where our product portfolio can become part of TE's sensor market, serving a wider and deeper customer base," said Dr. Dirk Rothweiler, CEO of First Sensor AG.

About First Sensor AG

First Sensor was founded in the early 1990s and is a global innovative player in sensor technology. Based on its expertise in chip design and production as well as microelectronic packaging, the company develops standard sensors and customer-specific sensor solutions in the fields of photonics, pressure and advanced electronics to address key markets including industrial, medical and transportation. First Sensor has been listed on the Frankfurt Stock Exchange since 1999.

Last year, First Sensor demonstrated the system performance of its avalanche photodiodes (APDs) to the industry using a MEMS micromirror scanning LiDAR demonstrator system from Infineon.

History of First Sensor AG (from First Sensor's official website)

Today's First Sensor AG was founded in 1991 as Silicon Sensor GmbH. Shortly after the transition from East Germany, Dr. Bernd Kriegel and 21 former employees of the VEB TV Electronics Factory took a bold step towards independence in the traditional industrial district of Oberschöneweide in Berlin. After 25 years, the company has grown from a start-up to a multi-million-dollar company that has mastered the entire value chain from sensor chips to sensors to complex sensor systems. None of this could have been foreseen at the time.

Even with willpower, technical expertise and a hunch about the future importance of sensors, the company initially lacked the right machines, clean rooms, funds and customers. It was this combination of ambition, knowledge and vision that allowed Silicon Sensor GmbH to quickly rise to success. The company had its first customers and began to establish a sales department with partners from Munich. As early as 1992, sales activities were expanded to the UK and the US. And production was also moving forward. In 1995, the first production line for 4-inch wafers was put into operation, and in 1996 the line was producing 300 wafers per month. The company continued to grow in the following years, with both the number of customers and the number of employees increasing.

In order to ensure its competitiveness in a market with very rapid changes, the company was successfully listed in 1999 through Silicon Sensor International AG. With the help of the raised capital, the path for continuous growth was set and the transition from start-up to medium-sized enterprise began. Sales in this period amounted to 2.97 million euros (5.8 million DM) per year.

Between 2000 and 2010, the company continued to grow in size through targeted acquisitions of German and international sensor technology companies along the value chain. This was also reflected in the continuous growth in sales: from 5.7 million euros in 2000 to 45.2 million euros in 2010. The company's lack of know-how in the fields of assembly and connection technology, packaging, MEMS (micro-electromechanical systems) technology was also filled during this period.

After 20 years of rapid growth and expansion of competences, the company celebrated its success in 2011 with its new company name – First Sensor AG. In the same year, First Sensor AG acquired the Sensortechnics Group and its subsidiaries in Germany and abroad. These acquisitions not only expanded the sales division, but also enabled First Sensor AG to develop from a manufacturer of customer-specific silicon-based optical sensor components to an internationally integrated industrial company. From then on, the company was able to offer its customers individual solutions from sensor components, sensor modules to sensor systems. With the acquisition of Sensortechnics, First Sensor AG's sales increased from 65.1 million euros to 111.9 million euros. In

2015, First Sensor AG united its subsidiaries under a common umbrella brand. In addition to the unified brand identity, this also included a common Internet website and a change in the names of the subsidiaries, which previously did not include the word "First Sensor".

Today, First Sensor has more than 850 employees worldwide and is one of the world's leading companies in the field of sensors. This success is based on innovative strength, constant improvement and a company spirit close to customers, employees and partners. By focusing on technologically distinctive target markets such as industry, medicine and transportation, First Sensor ensures continued growth and is ready to follow trends such as Industry 4.0, miniaturization of medical technology or autonomous driving to shape the new future of economy and society. First Sensor AG has firmly integrated this requirement with its ideals in its own business.