LISLE, Ill., July 31, 2019 (GLOBE NEWSWIRE) — CTS Corporation (NYSE: CTS) announced it has acquired Quality Thermistor, Inc. (QTI) for $75 million in cash and up to $5 million in compensation upon achievement of predefined performance milestones. QTI, doing business as QTI Sensing Solutions, is a leading designer and manufacturer of high-quality temperature sensors serving original equipment manufacturers (OEMs) in mission-critical applications in the industrial, aerospace, defense and medical markets. QTI's sensors are used to measure the temperature of gases, liquids and solids depending on the application to ensure equipment performance and reliability.
Headquartered in Boise, Idaho, with additional locations in Tecate, Mexico, QTI was founded in 1977 and has since established itself as a leader in temperature sensor technology, as evidenced by the company's broad product portfolio and long-standing customer relationships. CTS will continue to operate under the QTI Sensing Solutions brand, leveraging the value and recognition of the QTI brand.
“The acquisition of QTI provides CTS with new core temperature sensing technology, expanding our sensing product portfolio and further strengthening our strategy of focusing on innovative products that sense, connect and move,” said Kieran O'Sullivan, CEO of CTS Corp. “In addition, we are excited to add an incredibly talented team to CTS, expanding CTS' presence in the industrial and medical markets, and adding new valuable customer partnerships.”
“We are pleased and excited to join the CTS family at this exciting time. There is a strong alignment in strategy, core values and beliefs,” said Todd Ketlinski, CEO of QTI Sensing Solutions. “Furthermore, CTS will help expand our global footprint as we pursue continued growth and product innovation in cutting-edge temperature sensing applications.”
About CTS
CTS (NYSE: CTS) is a leading designer and manufacturer of products that sense, connect and move. The company produces sensors, actuators and electronic components in North America, Europe and Asia and serves engineered customers in the aerospace/defense, industrial, medical, communications/IT and transportation markets.
For more information about CTS Corporation, please visit www.ctscorp.com..
For more information about Quality Thermistor, Inc. (QTI), please visit: Thermistor
Media Contacts
Jacqueline Morris
Marketing and Communications Manager
CTS Corporation
4925 Indiana Avenue
Lisle, IL 60532
Email: MediaRelations@ctscorp.com
Phone: +1 (630) 577-8865
