Littelfuse Acquires Teccor Electronics
Littelfuse Inc. (Des Plaines, IL) announced it has acquired Teccor Electronics Inc. (Irving, TX), a subsidiary of Invensys plc, for $44 million in cash plus a future payment of $5 million contingent on sales of Teccor products reaching $107 million for calendar year 2005.
Teccor has annual global sales of approximately $75 million. Teccor manufactures and markets semiconductor products for the telecommunications and industrial market segments. The company manufactures two product groups: a line of transient-voltage suppressor devices and a line of power switching devices. Teccor has the number one market share position in North America and is in the top three globally for both product categories.
"We are pleased to welcome Teccor to the Littelfuse family," said Howard Witt, chairman, president and chief executive officer of Littelfuse. "The addition of Teccor's market-leading line of over-voltage products solidifies our position as the global leader in circuit protection."