TE Connectivity has entered into exclusive negotiations with Wendel and has made a binding offer to acquire Deutsch Group (Deutsch), a provider of high-performance connectors for harsh environments, in a transaction valued at euro 1.55 billion (approximately $2.06 billion at current exchange rates).

Deutsch is active in technology-driven specialty areas such as hermetics, filtering, high-speed precision machining, and composites. In 2011, Deutsch is expected to generate revenues of approximately $670 million and adjusted EBITDA margin of approximately 26%. Deutsch was founded in 1938 and is owned by Wendel.