VTI Technologies Acquired by Murata Manufacturing
EQT III, the current owner of VTI Technologies Ltd, has agreed to sell VTI to the publicly listed Japanese electronic components company Murata Manufacturing Co., Ltd. After the completion of the transaction VTI will become a fully owned subsidiary of Murata Manufacturing.
Under EQT III ownership since 2002, VTI has increased its sales by more than 75%, reaching a record high turnover of 75.8 million euros in 2010. The company has strengthened its position as the global market leader in low-g automotive sensors and as the leading supplier of MEMS sensors for pacemakers. During recent years, VTI has strongly developed new MEMS (Micro Electro Mechanical Systems) solutions for consumer electronics and built an external supply chain in Asia.
"EQT III has been a supportive owner and provided VTI with valuable resources and expertise throughout their ownership. 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", says Markku Hirvonen, President and CEO of VTI. "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", says Mr. Tsuneo Murata, President 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.
Murata Manufacturing Co., Ltd. is a worldwide leader in the design, manufacture and sale of ceramic-based passive electronic components and power supply modules. With annual revenues of ¥618 billion (approx.. EUR 6 billion), Murata is committed to the development of advanced electronic materials and leading edge, multi-functional, high-density modules. The company has employees and manufacturing facilities throughout the world. For more information, please visit www.murata.com.
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