Diversified electronics company TE Connectivity Ltd. (TEL) Tuesday said it completed the acquisition of Deutsch Group SAS, a subsidiary of European investment company Wendel, for 1.55 billion euros or about $2.05 billion.
TE Connectivity expects the acquisition to be accretive to adjusted earnings by about $0.20 per share in fiscal 2013, excluding acquisition-related costs.
The company said the acquisition will enable it to better serve customers in key industries such as Industrial Transportation, Industrial Equipment, Aerospace and Defense, Rail, and Offshore Oil and Gas.
Deutsch will be included as part of TE's Transportation Solutions segment for reporting purposes.
by RTT Staff Writer
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