WALLINGFORD, CT – Amphenol has announced an agreement to purchase wireless equipment maker PCTEL for $139.7 million.

Amphenol said the acquisition of PCTEL, which specializes in purpose-built Industrial IoT devices, antenna systems, and test and measurement products, will enable the company to further expand its portfolio and strengthen its position in the market. The transaction is expected to be finalized in the fourth quarter or in early 2024, subject to customary closing conditions and approval by PCTEL stockholders. Following the closure, PCTEL will no longer be listed on any public market.

"Our team has done an excellent job of growing the business, establishing a leadership position in both antenna and test & measurement (T&M) innovation, and meeting our customers’ strong global demand for high reliability applications," said PCTEL CEO David Neumann. "Amphenol is a leading global provider of interconnect, sensor, and antenna solutions. Their sustained financial strength and unique entrepreneurial culture will create a valuable home for our employees around the world. We look forward to the accelerated growth opportunities enabled by the combination of our two companies."