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Business/Financial

TE Connectivity To Acquire Undersea Tech Company SEACON Group

By Cal Biesecker

Thursday, April 17th, 2014

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TE Connectivity To Acquire Undersea Tech Company SEACON Group

SEACON provides submarine cable system to ROV/AUV industries. Photo: SEACON

Electronic connecting company TE Connectivity [TEL] on Thursday said it has agreed to acquire SEACON Group for $490 million in cash, expanding its capabilities in solutions for harsh environments and strengthening its position in the oil and gas industry. SEACON Group, which is based in California, serves the military marine and subsea sectors for remotely operated vehicles, autonomous underwater vehicles, oil and gas, environmental and oceanographic applications. “We are excited by the addition of the SEACON Group because it combines…

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