Global electronic component and service provider YAGEO Corporation (2327.TW) ("YAGEO") announced today that it has entered into a binding commitment with Schneider Electric (SU.PA), the leader in the digital transformation of energy management and automation, to acquire its Telemecanique Sensors business in an all-cash transaction. The proposed transaction values Telemecanique Sensors’ business at an enterprise value of EUR 723 million (approximately USD 729 million) with an estimated equity value of approximately EUR 686 million (approximately USD 692 million) assuming customary adjustments at closing and will be financed entirely through existing cash. Schneider Electric will grant YAGEO a license to use the Telemecanique SensorsTM name, and YAGEO will obtain the relevant sensor patents. The proposed transaction was approved by relevant governance bodies from both parties.
Telemecanique Sensors is a leading global specialist in the design, development, and delivery of mission-critical electromechanical and electronic sensors. Telemecanique Sensors generated around EUR 280 million (approximately USD 331 million) in revenue in 2021 and benefits from a worldwide presence with approximately 70% of its revenues in North America and Europe. With over 90 years of continuous innovation in sensors, Telemecanique Sensors has built a broad portfolio of sensing solutions including high-end limit switches, proximity sensors, and pressure sensors. Its products are used in several fast-growing macro trends such as IoT, Industrial Automation, Industry 4.0 and Infrastructure, including a wide array of applications.
