Swiss electronics company TE Connectivity said it would purchase U.S.-based sensor maker Measurement Specialties Inc for about $1.7 billion, including debt, to grab a bigger slice of the high-growth global sensor market.TE Connectivity was formerly known as Tyco Electronics, which split from Tyco International Ltd in 2007. The company said it expects the global sensor market will grow to $116 billion by 2019 from $80 billion this year.TE, which makes pressure and position sensors for the automotive and aerospace industries, said the size of the global market for its products is about $4 billion to $5 billion.Measurement Specialties, based in Hampton, Virginia, makes sensors that measure temperature, pressure, acceleration or humidity for the industrial, medical and consumer appliance markets.
Measurement Specialties, Inc., is engaged in the design, development and manufacture of sensors and sensor-based systems for original equipment manufacturers (OEM) and end users, based on a range of technology and characterized by the MEAS brand name. Shares of MEAS traded higher by 0.32% or $0.25/share to $78.00. In the past year, the shares have traded as low as $42.70 and as high as $79.00. On average, 59872 shares of MEAS exchange hands on a given day and today's volume is recorded at 122887.
Tyco International Ltd. (Tyco) is a diversified company, which provides security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Shares of TYC traded higher by 0.43% or $0.2/share to $46.20. In the past year, the shares have traded as low as $31.70 and as high as $46.26. On average, 3032460 shares of TYC exchange hands on a given day and today's volume is recorded at 2720337.
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