SAN FRANCISCO (AP) — Swiss electronics maker TE Connectivity Ltd. plans to buy privately held high-performance connector maker Deutsch Group SAS for 1.55 billion euros (about $2.1 billion).
TE said Tuesday that the deal would beef up its offerings in areas including industrial transportation, industrial equipment and aerospace and defense.
Deutsch, which is owned by European investment group Wendel, is based in France.
TE predicts the deal will add 20 cents per share to its adjusted earnings in 2013, excluding costs related to the purchase. TE expects the deal to be finalized by its fiscal third quarter, which ends in late June.