DES PLAINES, Illinois, August 25, 1999 – Littelfuse, Inc. (NASDAQ/NMS:LFUS) today announced it has signed a definitive agreement to purchase the Suppression Products Group of the Harris Corporation (NYSE:HRS). Terms of the transaction were not disclosed.
The Suppression Products Group, formerly part of Harris’s Semiconductor Sector, had global sales of approximately $38 million for the 12 months ended July 2, 1999. The Suppression Products Group manufactures and markets a broad line of transient voltage suppression devices that provide circuit protection for products in numerous markets including consumer, computer, telecommunications, automotive, office equipment, industrial and power transmission. The acquisition includes a manufacturing facility in Dundalk, Ireland.
"This business is an excellent strategic fit for Littelfuse," said Howard B. Witt, Chairman, President and Chief Executive Officer. "The acquired products are complementary to our existing overcurrent offering and, along with our recently introduced electrostatic discharge line, establish Littelfuse as a significant player in the overvoltage protection market. We are pleased to be acquiring both a technological leader in the overvoltage market and a strong management team."
Witt estimated that with this new line of products, Littelfuse will now be able to address a $400-500 million segment of the over $1 billion overvoltage protection market.
"This is a significant step in our strategy to broaden our circuit protection business. Adding the Suppression Products Group’s metal oxide varistor, multi-layer varistor and silicon-based protection technology platforms further strengthens our position as the leading supplier of circuit protection solutions and devices in the industry. It also enables us to further expand this product line by developing more advanced circuit protection products and solutions utilizing the technologies of both companies," Witt said.
"Today’s systems and equipment increasingly rely on electrical and electronic devices for their successful operation, resulting in a growing demand for devices that protect sensitive circuitry from electrical transients and over-stress. The addition of these transient voltage technologies provides growth opportunities for Littelfuse’s electronic and automotive businesses and enables us to offer our customers the most comprehensive line of circuit protection devices in the market," said William S. Barron, Vice President, Sales and Marketing. "Because of the common customer base of Littelfuse and the Harris Suppression Products Group, the addition of these new overvoltage products will position Littelfuse as a single source for our customers’ circuit protection needs."
About Littelfuse Founded in 1927, Littelfuse, Inc., the worldwide leader in circuit protection, offers the industry’s broadest and deepest portfolio of circuit protection products and solutions. Littelfuse devices protect products in virtually every market that uses electrical energy, from consumer electronics to automobiles to industrial equipment. In addition to its Chicago, Illinois, world headquarters, Littelfuse has more than 20 sales, distribution, manufacturing and engineering facilities in the Americas, Europe and Asia. Technologies offered by Littelfuse include Fuses; Gas Discharge Tubes (GDTs); Positive Temperature Coefficient Devices (PTCs); Relays, Controls, and Systems; PulseGuard® ESD Suppressors; SIDACtor® Protection Thyristors; TVS Diode Arrays (SPA™ Family of Products); Switching Thyristors; TVS Diodes and Varistors. The company also offers a comprehensive line of highly reliable Electromechanical and Electronic Switch and Control Devices for commercial and specialty vehicles, as well as underground Power Distribution.
For more information, please visit www.littelfuse.com.
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