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Sensata Technologies announced the acquisition of Spear Power Systems, which provides lithium-ion-based energy storage systems for land, sea and air applications.
Financial terms of the transaction were not disclosed.
It is expected to close during the fourth quarter, according to Swindon, England-based Sensata, which develops sensors and sensor-based controllers and software.
“We are pleased that the talented Spear Power Systems team, including over 40 highly experienced engineers, will be joining Sensata,” Vineet Nargolwala, executive vice president of sensing solutions at Sensata, said in a release.
“Spear Power Systems enables us to deliver more comprehensive energy storage solutions to help enable the electrification and replacement of combustion applications in support of OEM customers in diverse end-markets. These capabilities will be strong additions to our product portfolio and will help drive our electrification growth vector and accelerate our clean energy strategy.” — Transport Topics
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