Sensata Technologies Holding plc (NYSE:ST) completed the acquisition of SmartWitness Holdings, Inc.
November 18, 2021
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Sensata Technologies Holding plc (NYSE:ST) entered into an agreement to acquire SmartWitness Holdings, Inc. for approximately $190 million on October 4, 2021. SmartWitness will be integrated into the Performance Sensing reportable segment. SmartWitness team, representing more than 85 highly experienced product, engineers, sales and other professionals across the U.S., Bulgaria and the U.K., will be joining Sensata. The transaction is subject to clearance under the Hart-Scott-Rodino Act and other customary closing conditions. Sensata and SmartWitness expect to complete the transaction during the fourth quarter of 2021.
Sensata Technologies Holding plc (NYSE:ST) completed the acquisition of SmartWitness Holdings, Inc. for approximately $210 million on November 19, 2021. As per the terms of the transaction, Sensata Technologies paid an aggregate of $204.2 million, subject to certain post-closing items. In addition to the aggregate consideration, Sensata Technologies paid $8.6 million of cash at closing related to an employee retention arrangement.
Sensata Technologies Holding plc is an industrial technology company that develops, manufactures, and sells sensors and sensor-rich solutions, electrical protection components and systems, and other products. The Company's segments include Performance Sensing and Sensing Solutions. The Performance Sensing segment serves the automotive and heavy vehicle and off-road (HVOR) industries through its development and manufacture of sensors, high-voltage solutions (electrical protection components), and other solutions. The Sensing Solutions segment serves the industrial and aerospace industries through development and manufacture of a portfolio of application specific sensor and electrical protection products used in a range of industrial markets, including the appliance, heating, ventilation, and air conditioning (HVAC), water management, operator controls, charging infrastructure, renewable energy generation, green hydrogen production, commercial aircraft, defense, and others.