Sentec sold to US-owned company
Cambridge UK sensor technology business Sentec has been acquired by a subsidiary of US-owned infrastructure company Sensus. No sum has been disclosed for the deal.
Cambridge law firm Mills & Reeve advised on the technology tie-up which is designed to develop new solutions for the Internet of Things. The deal completed last night.
Sentec has earned international kudos for developing sensor technology and electronics for utilities, meters and appliance manufacturers.
The sale follows a 10-year working relationship between the two firms, during which Sensus helped develop some of the key technologies used in Sentec’s water and electric meters.
The sale will see Sensus’s global engineering and research capabilities expand, with innovative technology solutions reaching the market quicker, including more offerings to support the IoT.
Chris Shelley, CEO of Sentec said: “The Mills & Reeve team were able to help us throughout the process, we particularly valued the broad expertise they could offer across many departments, coupled with their local presence in Cambridge. Their understanding of technology businesses was a further asset that allowed them to work with us to ensure that the sale went smoothly.”
Anthony McGurk, corporate partner who led the Mills & Reeve team, added: “The outlook of these two technology firms are well aligned and we are pleased to have been able to help another Cambridge business realise their potential.
The innovative technology coming out of the region is having a real impact globally which this sale clearly demonstrates.”