CTS Acquires Temperature Sensors Company
CTS Corporation has acquired Sensor Scientific, Inc. (SSI), a temperature sensing company based in New Jersey.
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Rhea-AI Summary
CTS Corporation has acquired Sensor Scientific, Inc. (SSI), a temperature sensing company based in New Jersey. Founded in 1983, SSI specializes in manufacturing thermistors and temperature sensor assemblies for OEMs in medical, industrial, and defense markets. This acquisition enhances CTS's temperature sensing product portfolio and strengthens its presence in the medical sector. CEO Kieran O’Sullivan emphasized that SSI’s capabilities align with CTS's strategy of innovative product development, although the financial terms of the deal remain undisclosed.
Positive
- Acquisition expands CTS's temperature sensing product portfolio.
- Strengthens CTS's presence in the medical end market.
- Enhances capabilities with high-quality ceramic processing.
- Provides valuable customer partnerships.
Negative
- None.
Details
News Market Reaction – CTS
The recorded move for CTS in the trading session of this news was +1.06%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LISLE, Ill., Dec. 30, 2020 (GLOBE NEWSWIRE) -- CTS Corporation (NYSE: CTS) announced that it has acquired Sensor Scientific, Inc. (SSI), a privately held temperature sensing company.
Founded in 1983, Sensor Scientific is a manufacturer of high-quality thermistors and temperature sensor assemblies serving original equipment manufacturers (OEMs) for applications that require precision and reliability in the medical, industrial and defense markets. Sensor Scientific is based in Fairfield, New Jersey with a location in the Philippines.
“The acquisition of SSI expands our temperature sensing product portfolio and builds on our strategy to focus on innovative products that sense, connect and move,” said Kieran O’Sullivan, CEO of CTS Corporation. “SSI has complementary capabilities with our existing temperature sensing platform and expands CTS’ presence in the medical end market. It also provides high quality ceramic processing capabilities and valuable customer partnerships. I am pleased to welcome the SSI team to CTS.”
The terms of the transaction were not disclosed.
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of products that Sense, Connect, and Move. The company manufactures sensors, actuators, and electronic components in North America, Europe, and Asia, and provides engineered products to customers in the aerospace/defense, industrial, medical, telecommunications/IT, and transportation markets.
For more information on CTS Corporation, please visit www.ctscorp.com.
About Sensor Scientific, Inc.
Founded in 1983, and headquartered in Fairfield, New Jersey, Sensor Scientific, Inc. (SSI) designs, develops, and manufactures thermistors and temperature sensor assemblies for medical, industrial and defense industries.
For more information on Sensor Scientific, Inc. (SSI), please visit www.sensorsci.com.
Media Relations Contact
Jacqueline Morris
Marketing and Communications Manager
CTS Corporation
4925 Indiana Avenue
Lisle, IL 60532
E-mail: MediaRelations@ctscorp.com
Tel.: +1 (630) 577-8865
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