Methode acquires TouchSensor Technologies from Gemtron
01-03-07
Methode Electronics, a manufacturer of electronic components and subsystem devices, has acquired one hundred percent of the member interest of TouchSensor Technologies, from Gemtron Corporation for $65 million in cash and assumed liabilities. Gemtron Corporation is owned by Schott North America and AFG Industries. TouchSensor designs touch-sensitive user interface panels found on products such as home appliances, commercial beverage dispensers and automobiles. TouchSensor products are found on such consumer goods as cooktops, wall ovens and ranges, washing machines, bath/shower controls and exercise equipment. Their products are also beginning to be used in automotive applications, and an interior switch application on a domestic vehicle for the 2008 model year. TouchSensor's trailing twelve-month sales were approximately $38 million.