Murata Manufacturing has agreed to acquire Finland-based MEMS sensor firm VTI Technologies Oy.
The share deal is reported to be valued at $260m.
VTI is an established supplier of MEMS sensors for pacemakers and has developed new MEMS (micro electromechanical systems) motion sensors for consumer electronics and built an external supply chain in Asia.
“We believe VTI and Murata have a strong strategic fit and are excited about the opportunity of combining VTI’s product development and manufacturing competence with Murata’s well-built customer base and technological know-how,” said Markku Hirvonen, president and CEO of VTI.
VTI, which is currently owend by private equity firm EQT III, had a turnover of €75.8m in 2010.
“By adding VTI’s market leading 3D MEMS products to Murata’s existing sensor product lineup, Murata aims to achieve synergies that will help to strengthen and expand its sensor business”, said Tsuneo Murata, president of Murata Manufacturing.
After the completion of the transaction VTI will become a fully owned subsidiary of Murata Manufacturing.
The closing of the acquisition is subject to approvals from competition authorities and is expected to take place in less than six months from now.
www.vtitechnologies.com