“The acquisition of Accel gives us an initial foothold in the growing automotive sensor market, and is consistent with our strategy to expand beyond circuit protection into adjacent, complementary technologies,” said Dieter Roeder, vice president and general manager of the Littelfuse Automotive Business Unit.
Accel had revenues last year of about €16 million ($19.82 million). The company’s relationships with OEM and Tier 1 automotive customers will provide growth opportunities for Littelfuse, Roeder noted. “In addition, Accel’s facility in Kaunas, Lithuania, provides us with a low-cost manufacturing base in Eastern Europe.”
Terms of the cash transaction were not disclosed.