Littelfuse To Acquire Circuit Protection Business Of TE Connectivity

(RTTNews) - Littelfuse, Inc. (LFUS) Monday announced it a definitive agreement to acquire the circuit protection business of TE Connectivity Ltd. (TEL) for $350 million in cash. The company expects the transaction to be immediately accretive to earnings and projects cost synergies of at least $10 million annually starting in 2017. Littelfuse Board of Directors have approved the deal.

The business headquartered in Menlo Park, California has manufacturing facilities in Shanghai and Kunshan, China and Tsukuba, Japan.

Littelfuse said the business is an excellent strategic fit with Littelfuse and will help expand its global circuit protection product portfolio as well as its presence in the automotive electronics and battery end markets.

For fiscal 2015, TE circuit protection business estimates revenue of $190 million in fiscal 2015 with an EBITDA margin of approximately 20 percent. excluding acquisition and integration related costs.