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Vishay, SI Technologies agree to merge

Posted: 31 Dec 2004 ?? ?Print Version ?Bookmark and Share

Keywords:si technologies? industrial sensor? load cell?

Vishay Intertechnology Inc. has signed an agreement to acquire SI Technologies, an industrial sensor and control supplier, for $17.65 million in stock, in a move to strengthen its position in the transducer instrumentation and systems markets.

Vishay had originally announced its intent to acquire SI Technologies in October. The merger agreement calls for about $10.5 million of outstanding bank debt to be repaid at closing of the transaction, expected the first quarter of 2005.

SI Technologies reported $36.2 million in net sales in its latest fiscal year ended July 31, 2004. SI Technologies adds to a string of industrial sensor and load cell suppliers Vishay has acquired in recent years, including BLH and Nobel, Sensortronics, and Tedea-Huntleigh BV.

"Our acquisition of SI Technologies is another step in Vishay's strategy to broaden the product offerings of the Vishay Measurements Group," said Felix Zandman, chairman and chief executive of Vishay. "This transaction will further reinforce our position in the transducer, instrumentation and systems markets and will complement and enhance our existing capabilities in these areas."

Vishay will keep SI Technologies' Revere brand name as it adds the company's products.

- Spencer Chin

EE Times

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