CHICAGO â€“ Littelfuse, Inc. (NASDAQ:LFUS) today announced it successfully completed its acquisition of the circuit protection business of TE Connectivity Ltd. (NYSE: TEL) for $350 million in cash. The circuit protection business has a leading position in polymer-based resettable circuit protection devices, with a strong global presence in the automotive, battery, industrial, communications and mobile computing markets. The acquired business has operations in Menlo Park, California and manufacturing facilities in Tsukuba, Japan and Shanghai and Kunshan, China.
Littelfuse will continue to produce and sell PolySwitch® devices, 2Pro® devices, PolyZen® devices and other circuit protection products that are part of the acquisition.
â€śThis is an exciting day for Littelfuse,â€ť said Gordon Hunter, CEO of Littelfuse. â€śWith this acquisition, we have strengthened our core circuit protection business â€“ both with new products and new markets. We believe our expanded product portfolio and manufacturing capabilities provide excellent growth opportunities for the future.â€ť
Founded in 1927, Littelfuse is the world leader in circuit protection with growing global platforms in power controls and sensing. The company serves global customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays and sensors. Littelfuse has nearly 9,000 employees in more than 35 locations throughout the Americas, Europe and Asia. For more information, please visit the Littelfuse website: Littelfuse.com.
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