First Sensor AG, a developer and manufacturer of standard products and customer-specific sensor solutions, has a new major shareholder: After completion of the takeover offer published on July 8, 2019, TE Connectivity Sensors Germany Holding AG, a wholly owned subsidiary of TE Connectivity Ltd. ("TE"), holds a total of 71.87 percent of the share capital and voting rights as of today.
“I am happy that we now have clarity and the path is free for the business combination agreed on in June 2019. This will allow us to accelerate our growth in a market environment that is increasingly competitive worldwide. We can benefit here from TE's technology and product leadership and its global reach in order to provide our customers with a more comprehensive range of products,” says Dr. Dirk Rothweiler, who continues to be responsible for the business of First Sensor AG as CEO. “At the same time, we are incorporating innovative, market-leading technologies, sensors and sensor systems, which are largely complementary to TE Connectivity's existing product portfolio, and a profound understanding of applications to the joint business.”
In preparation for the business combination, TE already announced on December 10, 2019, that it wishes to conclude a Domination and Profit and Loss Transfer Agreement. “The business combination with First Sensor is yet another milestone in TE Connectivity’s commitment to being a leader in the sensor space and continuing to provide customers with a high level of product innovation and service,” says John Mitchell, senior vice president and general manager of TE sensors business. “The First Sensor team’s capabilities as well as their products, strongly align with the markets we serve and create greater opportunity to serve our customers.”Downloads
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