Taiwan Electronics Billionaire Makes Second Sensor Acquisition In A Month

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Taiwan Electronics Billionaire Makes Second Sensor Acquisition In A Month
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Taiwan electronics manufacturer Yageo announced its second overseas acquisition this month with the purchase of Schneider Electric’s Telemecanique Sensors for $729 million in cash.

Pierre Chen

Taiwan electronics manufacturer Yageo, led by billionaire Pierre Chen, on Thursday announced its second overseas acquisition this month with the purchase of Schneider Electric’s Telemecanique Sensors for $729 million in cash. Shares in Yageo, whose parts are found in everything from mobile phones to tablet PCs and cars, gained 9.8% to NT$367 at the Taiwan Stock Exchange today on the news. That helped to lift Chen’s fortune to $3.8 billion on the Forbes Real-Time Billionaires List.

Yageo earlier in October also said it would buy Heraeus Nexensos GmbH — or Heraeus Nexensos — for approximately $78 million from Heraeus Holding. Hanau, Germany-headquartered Heraeus Nexensos makes thin-film temperature sensors for industrial and automotive automotive customers. The company has manufacturing sites in Germany and Malaysia and has about 480 full time employees.

“In a world that is rapidly moving towards everything smart and electrified, sensors are an integral part of that paradigm shift,” Chen said in a statement. See full announcements

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