Smiths Interconnect Buys US Connector Firm for $185M

Hypertronics announced today that Smiths Interconnect, a division of global technology business Smiths Group (LSE: SMIN), has completed the $185 million purchase of Interconnect Devices, Inc. (IDI), a leading designer and manufacturer of probe technology for use in industrial and semiconductor testing, and high performance connector applications. The Kansas City-based company will become part of the Connector Technology Group within Smiths Interconnect.

IDI designs and produces highly engineered, application specific connectors using a proprietary spring probe contact technology. It focuses on mission critical applications for semiconductor and circuit-board testing, and high reliability connectors for military, medical, homeland security and industrial markets. IDI employs 560 people, more than half at its Suzhou plant in China, and runs a specialist engineering centre in Gilbert, Arizona.

Smiths Interconnect President Ralph Phillips said: "We are a leading supplier of technically differentiated components that are critical to our customers’ products and operations, IDI adds a completely new range of connectors to complement our existing portfolio and provide our customers with a wider range of solutions encompassing multiple connector technologies. With a major plant in China, IDI strengthens our connector operations and will allow us to leverage our existing international sales resources, particularly in Europe which accounts for a quarter of the global connectors market."

Connectors Managing Director Roland Carter added: "This acquisition will add world-class spring probe and related socket design capabilities to our engineering portfolio as well as opening new sales channels and positioning the global brands of IDI, Antares and Synergetix alongside the strong brands and technologies of Hypertac, Hypertronics and Sabritec that already exist within Connectors.”

ABOUT HYPERTRONICS CORPORATION

Hypertronics, based in Hudson, Massachusetts, has been a leader in the design, manufacturing and distribution of specialty connectors for the electronics industry since 1970. Its Hypertac® technology is renowned for delivering unfailing performance in high-reliability applications in the medical, military/aerospace, test and measurement and industrial market segments. The company offers a wide range of standard catalog products as well as custom-designed connectors for more specific application needs and performance requirements. Hypertronics is a wholly-owned subsidiary of Smiths Interconnect. More information about Hypertronics products and solution offerings can be found at www.hypertronics.com.

ABOUT SMITHS INTERCONNECT

Smiths Interconnect www.smithsinterconnect.com is a leading provider of specialised electronic and radio frequency products for the wireless telecommunications, aerospace, defence, and medical markets. It is part of Smiths Group www.smiths.com, a global leader in applying advanced technologies for markets in threat and contraband detection, energy, medical devices, communications and engineered components. Smiths Group employs around 22,000 people in more than 50 countries.

ABOUT INTERCONNECT DEVICES, INC. (IDI)

Interconnect Devices, Inc. (IDI) www.idinet.com is a leading provider of spring contact probe based technologies, including custom connectors and advanced semiconductor test sockets. IDI connectors can be found in a variety of applications within the military, aerospace, medical and industrial markets and its spring contact probe connectors are renowned for their performance in high reliability, fail-safe applications. IDI continues to lead innovation in the semiconductor test industry today with its Antares and Synergetix Test Socket designs that were also the first semiconductor test sockets to use spring contact probe technology.