WALLINGFORD, CT – Amphenol has entered into a definitive agreement to acquire SSI Controls Technologies, the sensor manufacturing division of SSI Technologies, for approximately $400 million, plus a performance-related contingent payment.

The transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to close by early 2019.

SSI designs and manufactures sensors and sensing solutions for the automotive and industrial markets, with annual sales of approximately $180 million.

“We are extremely pleased to announce this agreement to add SSI to the Amphenol family,” said R. Adam Norwitt, Amphenol’s president and CEO. “We believe SSI’s product offerings are uniquely complementary to our existing offerings and represent a significant long-term growth opportunity driven by the expansion of electronics across a broad set of applications in the automotive and industrial markets. We look forward to working in partnership with SSI’s experienced management team to deliver additional high technology solutions to our customers.

“Consistent with our acquisition strategy and assuming a continuation of current economic conditions, we expect the SSI acquisition to be accretive to earnings per share in the first year post-acquisition.”

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