Sensata Snags Honeywell Sensor Unit For $140M

Law360, New York (October 28, 2010, 3:31 PM EDT) -- Netherlands-based Sensata Technologies Holding NV revealed Thursday that it will shell out $140 million in cash to acquire Honeywell International Inc.'s “automotive on board” sensors business, a move the sensor control and engineering company said would help boost its footprint in the fast-growing Asian market for automotive sensors.

Sensata said it plans to use available cash resources to fund the purchase of the sensors unit, which manufacturers transmission, vehicle-pressure and wheel-speed sensors and had annual sales of about $130 million.

“This acquisition further expands our leadership...
To view the full article, register now.