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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Tyco agreed in September 1999 to buy Siemens AG’s complete Electromechanical Components (Siemens EC) business for about 2 billion Deutsche Marks. The acquisition, completed on 23 November, added a relay-led components supplier with approximately $900 million in annual sales to Tyco Electronics and strengthened Tyco’s position in telecommunications and other markets.
What Tyco bought from Siemens
The purchase covered Siemens AG’s complete Electromechanical Components business, later identified in Tyco’s annual report as Siemens Electromechanical Components GmbH & Co. KG. It was an operating components business, not simply a purchase of one product line.
Siemens described the agreed price as approximately 2 billion Deutsche Marks in its 28 September 1999 announcement. Tyco later reported approximately $1.1 billion in cash consideration in its 1999 annual report. These are the seller’s announced price and the buyer’s reported cash consideration, respectively, rather than two competing figures.
When the transaction was announced, cleared and completed
| Date | Event | What the record says |
|---|---|---|
| 28 September 1999 | Agreement announced | Siemens said it had signed a purchase agreement with Tyco for the complete business, subject to regulatory approval, at a price of about 2 billion Deutsche Marks. Siemens announcement |
| 11 October 1999 | Regulatory notification | The European Commission recorded receipt of Tyco’s notification to acquire control of the business through the purchase of shares and assets. European Commission case record |
| 16 November 1999 | Commission clearance | The Commission concluded that the notified operation did not raise serious doubts about compatibility with the common market and the EEA Agreement. European Commission case record |
| 23 November 1999 | Acquisition closed | Tyco’s 1999 annual report says it consummated the acquisition for approximately $1.1 billion in cash. Tyco International 1999 annual report |
| 26 November 1999 | Completion reported | The Royal Gazette covered Tyco’s completion announcement and planned integration into Tyco Electronics. The Royal Gazette report |
What Siemens EC made
Tyco’s 1999 annual report put Siemens EC’s annual sales at approximately $900 million and described it as the world market leader for relays. Tyco also characterized it as one of the world’s leading component providers serving communications, automotive, consumer and general-industry markets. Tyco International 1999 annual report
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- "Direct Fit Replacement - Engineered as an upgraded replacement component providing complete compatibility for quick, accurate, and seamless installation"
- "Durable Construction - Manufactured with premium-grade materials to ensure extended service life, improved reliability, and exceptional resistance to wear and thermal stress"
- "Reliable Performance - Designed to meet industry engineering specifications ensuring consistent operation across residential and commercial HVAC, furnace, heat pump, and refrigeration applications"
- "Wide Application Range - Compatible with various HVAC components including motors, capacitors, relays, ignitors, thermostats, pressure switches, defrost timers, sequencers, transformers, and universal control components"
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A contemporary EE Times account lists the product range as telecommunications and general-purpose relays, hybrid circuits, multichip modules, sensors and high-performance connector systems. The products served automotive, communications and computer applications. EE Times account
Why the acquisition changed Tyco’s position
The strategic fit was primarily complementary: Siemens EC brought telecommunications strength to Tyco Electronics’ automotive capability. Tyco said the combination offered opportunities to strengthen its market position; The Royal Gazette reported the company’s view that the combined group would be the world leader in passive-electronics manufacturing. The Royal Gazette report
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- "Direct Fit Replacement - Engineered as an upgraded replacement component providing complete compatibility for quick, accurate, and seamless installation"
- "Durable Construction - Manufactured with premium-grade materials to ensure extended service life, improved reliability, and exceptional resistance to wear and thermal stress"
- "Reliable Performance - Designed to meet industry engineering specifications ensuring consistent operation across residential and commercial HVAC, furnace, heat pump, and refrigeration applications"
- "Wide Application Range - Compatible with various HVAC components including motors, capacitors, relays, ignitors, thermostats, pressure switches, defrost timers, sequencers, transformers, and universal control components"
- "Easy Installation and Maintenance - Built for straightforward compatibility, reducing downtime while ensuring HVAC systems operate safely and efficiently throughout the year"
Integration distributed the acquired products across Tyco’s existing organizations rather than keeping them together as a single product group. EE Times reported that the Siemens EC relay line was divided among Tyco’s Automotive, Communications Equipment and Regional Business organizations. Connector products moved into Tyco Communications and Computer groups. Juergen Gromer, then president and chief executive of Tyco Electronics, said the arrangement was intended to broaden customer capability while preserving focus on customers’ industries and needs. EE Times account
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Where the business went afterward
Tyco Electronics was formed in part through acquisitions that included Siemens’ Electromechanical Components Division. SEC filings record Tyco Electronics’ separation from Tyco International in 2007 and its change of name to TE Connectivity Ltd. in 2011. That establishes the corporate lineage of the acquired business within Tyco Electronics, but it does not by itself establish present-day equivalents for any individual Siemens EC part number. SEC filing SEC filing
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