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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteTyco agreed in September 1999 to buy Siemens AG’s complete Electromechanical Components business for about 2 billion Deutsche Marks. Tyco later reported paying approximately $1.1 billion in cash when the deal closed on 23 November 1999. The acquisition added a major relay supplier and a broad range of electronic components to Tyco Electronics, strengthening its position across telecommunications, automotive and other industries.
What did Tyco buy from Siemens?
Tyco acquired Siemens Electromechanical Components GmbH & Co. KG, Siemens AG’s complete electromechanical-components business. Its products served telecommunications, automotive, consumer and general-industry customers.
The range included telecommunications and general-purpose relays, hybrid circuits, multichip modules, sensors and high-performance connector systems. Contemporary coverage also identified automotive, communications and computer applications for these products. EE Times’ 1999 account of the integration describes the product categories and how Tyco allocated them within its organizations.
How much did Tyco pay?
Siemens announced a purchase price of approximately 2 billion Deutsche Marks on 28 September 1999. Tyco’s 1999 annual report records the completed acquisition on 23 November for approximately $1.1 billion in cash. These are the seller’s announced price in Deutsche Marks and the buyer’s reported cash consideration in dollars, respectively; they should not be treated as a like-for-like comparison without additional exchange-rate and transaction details. Siemens’ announcement and Tyco International’s 1999 annual report provide the figures.
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When was the acquisition announced, cleared and completed?
- 28 September 1999: Siemens announced it had signed a purchase agreement with Tyco for the complete business, subject to regulatory approval.
- 11 October 1999: The European Commission recorded Tyco’s notification to acquire control through the purchase of shares and assets.
- 16 November 1999: The Commission concluded the proposed operation did not raise serious doubts about compatibility with the common market and the EEA Agreement.
- 23 November 1999: Tyco’s annual report records that it consummated the acquisition.
- 26 November 1999: The Royal Gazette reported Tyco’s completion announcement and planned integration into Tyco Electronics.
The Commission’s case record covers the notification and clearance dates: European Commission decision on the Tyco/Siemens EC transaction. The contemporaneous completion report appeared in The Royal Gazette.
Why was Siemens EC important to Tyco?
Siemens EC brought scale as well as product breadth. Tyco’s annual report put its annual sales at approximately $900 million and described it as the world market leader for relays and one of the world’s leading component providers to communications, automotive, consumer and general-industry sectors. That sales figure is the specific scale measure reported for the acquired business; the cited materials do not establish another comparable valuation or sales statistic.
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Strategically, Tyco paired Siemens EC’s telecommunications strengths with Tyco Electronics’ strengths in automotive markets. The Royal Gazette reported Tyco’s view that the combination would create the world leader in passive-electronics manufacturing. That was the company’s stated market-position claim, not an independently measured market-share statistic. The Royal Gazette’s report quoted Tyco describing the opportunity to enhance the combined market position through those complementary strengths.
How did Tyco integrate Siemens EC’s products?
Tyco did not keep every acquired product line in a single unit. EE Times reported that the Siemens EC relay line was divided among Tyco’s Automotive, Communications Equipment and Regional Business organizations. Connector products moved into Tyco Communications and Computer groups. The integration therefore aligned products with customer-facing industry and business units rather than preserving one undivided Siemens EC organization.
Juergen Gromer, then president and chief executive of Tyco Electronics, said the structure would let the company offer customers broader capability while retaining a focus on their industries and needs, according to EE Times.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Siemens EC after the purchase?
The acquired electronics businesses became part of Tyco Electronics. SEC filings say Tyco Electronics was formed principally through acquisitions, including Siemens’ Electromechanical Components Division. Tyco Electronics separated from Tyco International in 2007 and changed its name to TE Connectivity Ltd. in 2011. Those milestones establish the corporate lineage, but they do not by themselves confirm that any particular historical Siemens EC part number has a direct current equivalent. Tyco Electronics’ SEC filing and its 2011 filing record the separation and name change.
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