Littelfuse, Inc., Des Plaines, Ill., has acquired Teccor Electronics, Inc., a manufacturer of semiconductor products for the telecommunications and industrial market segments from a subsidiary of Invensys plc.
Littelfuse bought the company 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, based in Irving, Texas, has annual global sales of approximately $75 million. 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 B. Witt, chairman, president and CEO. "The addition of Teccor's market-leading line of overvoltage products solidifies our position as the global leader in circuit protection," added Witt. "This strategically important acquisition deepens our overvoltage protection offering and strengthens our position in the telecom and industrial market segments," said David Samyn, General Manager, Electronics Division. "Teccor's complementary products and value added approach to selling will augment Littelfuse's capabilities as the world's leading provider of circuit protection solutions."