Richard Tyson, TT’s CEO, said: “The acquisition is an important step to accelerate our strategy of building leading positions in sectors where increasing electrification is fuelling demand for our highly engineered electronic solutions.
“We look forward to welcoming Stadium's employees and combining power electronics capabilities and R&D expertise to drive growth for the combined business. Stadium will add complementary technologies including connectivity offerings, in industries we already know well.”
Responding, Stadium’s chairman Nick Brayshaw, noted: “The Stadium Board's strategy in transitioning the company to a design-led technology business with a focus on wireless connectivity, power and interface and displays has been successful and is now entering the next phase of growth.
“The strategic fit with TT is strong and the Stadium Board believes that the combined business provides considerable scope for accelerating the development of Stadium’s strategy.”
TT says it has increased investment in R&D to launch more new products as it increasingly works alongside its customers to provide engineered electronic solutions. Meanwhile, it adds, Stadium has successfully grown its Technology Products division through organic investment and acquisitions, setting up three R&D centres to position the business for future growth.
Stadium has two divisions – Technology Products, contributing around 60% of revenues, and Electronic Assemblies. The former division handles connectivity solutions, wireless solutions, power supplies and HMI solutions; while the latter provides electronic manufacturing services to global OEMs.
