Molex announces agreement to acquire Smiths Interconnect
Molex has announced that it has signed an agreement to acquire Smiths Interconnect. Smiths Interconnect, a subsidiary of United Kingdom-based Smiths Group plc, is a provider of high-reliability connectivity products and solutions serving the aerospace and defence, medical, semiconductor test and industrial markets. Smiths will receive cash consideration for the transaction, subject to customary adjustments for working capital, cash and debt.
“Molex is excited to reinforce our commitment to the aerospace and defence market with the acquisition of Smiths Interconnect,” said Joe Nelligan, CEO, Molex. “Smiths Interconnect has a highly complementary portfolio of advantaged solutions that strongly enhances the platform established by our acquisition of AirBorn last November. The combination of Molex’s global scale, capabilities and financial stability with Smiths Interconnect’s complementary technologies, products, customers and footprint will enable us to expand our aerospace and defense business and support customers in new and innovative ways.”
Smiths Interconnect designs and manufactures technically differentiated electronic components, along with microwave, optical and radio frequency products and subsystems that connect, protect and control critical applications. Smiths Interconnect has 21 sales, R&D and manufacturing locations across 12 countries, including the United States, Canada, Mexico, Costa Rica, France, Germany, Italy, the United Kingdom, Tunisia, India, China and Singapore.
