TE Connectivity to acquire the Seacon Group
23 April 2014
TE Connectivity will acquire the Seacon Group, which provides underwater connectors and systems for military marine and sub-sea sectors.
The acquisition price is $490million, cash. The company’s connectors and systems are found in remotely operated vehicles, autonomous underwater vehicles, oil and gas, environmental and oceanographic applications.
The acquisition strengthens TE’s positions in connectivity for harsh environments and in the oil and gas industry. Tom Lynch, TE Connectivity chairman and CEO said. “We are excited by the addition of the SEACON group because it combines their fibre optic capability, TE’s cable product line and the power connector range from our Deutsch acquisition to create … offerings for undersea applications.”
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