NEWS

On July 14, 2021, TE Connectivity (TE) and ERNI Group AG (ERNI) announced that TE has signed a definitive agreement to acquire ERNI. The acquisition of ERNI will help TE to further expand the connector portfolio, particularly for high-speed, small-pitch connectors for factory automation, automotive, medical and other industrial applications. ERNI's join-in not only strengthens TE's engineering capabilities in board end connections, expands the manufacturing base for related products, and enhances TE's production capabilities in this product area, but also helps TE expand its customer base and reach in several attractive market segments.

"We are very pleased to welcome the ERNI team to TE," said Mr. Vish Ananthan, Senior Vice President and General Manager of TE's Industrial Business Unit. "TE has broad industrial product lines, customer base and large-scale production capabilities, while ERNI has industry-leading products, deep technical expertise and production capabilities across Europe and Southeast Asia. The combination will significantly enhance the value we bring to our customers. Together, we will continue to innovate in miniaturization, signal integrity, higher data transfer speeds, power requirements, and product reliability to better meet our customers' needs when designing applications."

"By joining TE, ERNI is able to leverage TE's global sales network and strong technical capabilities," said Dr. Christoph Weiss, ERNI board representative. "We are very pleased with TE's continued commitment to ERNI product innovation and are looking forward to future developments."

The acquisition is expected to close by the end of the quarter, prior to the completion of the usual regulatory approvals.

 About TE CONNECTIVITY

TE Connectivity (shorted as "TE"), headquartered in Switzerland, is a global industry technology company dedicated to creating a safer, more sustainable, efficient and interconnected future. TE's broad range of connectivity and sensing solutions have been proven in demanding environments, continuously driving development in transportation, industrial applications, medical technology, energy, data communications and household goods. TE employs nearly 80,000 people worldwide, more than 7,500 of whom are engineers, and works with customers in nearly 140 countries. TE believes in the creation of infinite connectivity.

About ERNI

ERNI is an international family-owned company with Swiss origins, with over 70 years of experience as a global manufacturer and service provider. ERNI has operations in more than 40 countries and regions around the world, with advanced manufacturing sites in Europe, North America and Asia Pacific, developing and producing a wide range of electronic connector solutions for different industries, especially in industrial automation and automotive.