TE Connectivity Acquisitions: Details
TE Connectivily acquired Measurement Specialties, Inc., Confluent Surgical, Inc., Com-Net, Raychem Corporation, and U.S. Surgical for $1.7 billion, $245 million, $80 million, $3.27 billion, and $3.3 billion, respectively. Details of each companies acquisition have been provided in the attached spreadsheet.
- Silicon Microstructures Inc.
designs and manufactures micro-electro-mechanical systems (MEMS) sensor technology. The company provides technology for pressure and flow sensing specifically designed for invasive medical devices with ultra-small sensors.
- Kissling Group works in the commercial transportation, industrial, military, and aviation industries to provide high-power and high-voltage relays and ruggedized switches. The company markets itself as providing solutions for these industries that can work in demanding environmental operating conditions.
- ABB's Entrelec was founded in 1920 providing terminal blocks in more than 70 countries. The company manufactures "electrification products, robotics and motion, industrial automation and power grids."
- China Xiamen Delixing/Sibas manufactures heavy-duty connectors for machinery equipment, factory automation, power management and railways. The company is privately owned and was founded in 1998 in Xiamen City in South Fujian, China.
- Measurement Specialties, Inc. manufactures sensor technology for pressure, vibration, force, temperature, humidity, ultrasonics, position and fluid. The company covers several industries and applications and manufactures using "piezo-resistive silicon sensors, application-specific integrated circuits, micro-electromechanical systems ("MEMS"), piezoelectric polymers, foil strain gauges, force balance systems, fluid capacitive devices, linear and rotational variable differential transformers, electromagnetic displacement sensors, hygroscopic capacitive sensors, ultrasonic sensors, optical sensors, negative thermal coefficient ("NTC") ceramic sensors, mechanical resonators and submersible hydrostatic level sensors."
- Confluent Surgical, Inc. marketed a neurosurgical sealant for use in cranial dural repair. The company's products are designed to "improve patient outcomes by reducing leaks or adhesions across various surgical specialties."
- Com-Net had 651 employees as of April 17, 2001. The company has been described as a systems integrator and worked in the radio technologies industry.
- "Raychem, Menlo Park, Calif., is comprised of two divisions- electronic OEM components, which includes circuit-protection devices, interconnects, and wire and cable products; and the telecommunications, energy, and industrial segment, which carries copper- and fiber-based network accessories. Each account for about 50% of Raychem's sales, which reached $445 million in its third fiscal quarter ended March."
- "U.S. Surgical's roster includes surgical staplers, sutures, electro-surgical products and disposable laparoscopic instruments. These products account for 90 percent of the company's revenues."
In order to identify the cost or value of the acquisition for Silicon Microstructures Inc., and Kissling Group we began our search by scouring company databases like crunchbase and pitchbook, however, none of these sources provided the actual value of any of the acquisitions. We then searched media releases from both parties in hopes to find the value in a press release or media coverage of the deal. Unfortunately, this search did not provide the value, only statements from both parties about the acquisition in general. Finally, we scoured company financials for TE Connectivity during the year of the acquisition in hopes to find details of the acquisition financials, however, the company only disclosed that in 2019, they funded acquisitions for a total amount of $296 million USD, $153 million USD in 2018, $3.9 billion in 2014,
In order to determine the sales of ABB's Entrelec, Com-Net, and Confluent Surgical, Inc. prior to their acquisition, we scoured public records looking for financial reports, however, because the companies were private or subsidiaries, there are no SEC filings for the companies prior to the acquisition. We then scoured company databases on sites like crunchbase and pitchbook, however, none of these sources provided estimated revenue for the companies. Finally, we scoured media releases and industry reports on sites like Forbes and Business Insider, however, none of these sources provided any details regarding estimated sales for the companies. Through all searches, we were unable to find any data that could be used as a proxy or that could provide data for an estimated calculation of the company's sales prior to the acquisition by TE Connectivity.
In order to find a statement from either company that states the reason for the acquisition of Com-Net, we began our search by scouring media releases related to the acquisition. Unfortunately, there were no public releases on sites like Business Wire or other business media sites. We then search company press releases from TE Connectivity, however, they do not have press releases that date that far back on their website. Next, we searched databases like crunchbase, pitchbook, and other business sites that provide merger and acquisition details. This search also provided no results. Finally, we searched annual reports for each company for that year. Unfortunately, the mentions of the company in the TE Connectivity reports did not provide any additional details as to why the companies merged, only stated that they had.