LISLE -- CTS Corp. announced the acquisition of Quality Thermistor Inc. for $75 million in cash.
QTI, doing business as QTI Sensing Solutions, is a designer and manufacturer of high-quality temperature sensors serving original equipment manufacturers in the industrial, aerospace, defense and medical markets. QTI's sensors are used to measure temperature in gas, liquid or solid mass to ensure equipment performance and reliability.
Based in Boise, Idaho with a location in Tecate, Mexico, QTI was founded in 1977 and has since established itself as a leader in temperature sensing technology. The company will continue to operate under the QTI Sensing Solutions brand.
As part of the deal, QTI will receive an earn out of up to $5 million upon meeting pre-defined performance objectives.
"The acquisition of QTI provides CTS a new core temperature sensing technology, expanding our sensing product portfolio and building on our strategy to focus on innovative products that sense, connect and move," said Kieran O'Sullivan, CEO of CTS Corp.
QTI Sensing Solutions CEO Todd Ketlinski added "CTS will help expand our global footprint as we pursue continued growth and product innovation in cutting edge temperature sensing applications."