SMI is a maker of MEMS-based pressure sensors for the automotive, medical, and industrial markets that was founded in 1991. The deal is expected to close in 2019 and after that Elmos will close its micromechanics business. Elmos did reveal the sale price.
After closing of the transaction, Elmos will concentrate on the further development of its semiconductor core business with the business lines Sensors, Smart Control and Smart Solutions, and particularly in the automotive sector.
Elmos acquired SMI in 2001 and SMI is strong player in pressure sensors for automotive transmission and HVAC applications. SMI has also expanded with low pressure respiration devices into the medical sector.
"The IntraSense products have now reached a phase in which a financially strong partner with a broader market presence, such as TE, can implement economic success faster and put it on a strong footing," said Anton Mindl, CEO of Elmos, in a statement.
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