Sensata Buys SmartWitness For Undisclosed Sum

(RTTNews) - Sensata Technologies (ST), a developer of sensors and sensor-based solutions, on Tuesday announced that it has acquired privately-held SmartWitness Holdings, Inc., an innovator of video telematics technology for commercial fleets, for an undisclosed sum.

The transaction, which is subject to clearance under the Hart-Scott-Rodino Act and other customary closing conditions, is expected to close in the fourth quarter of 2021, the Attleboro-headquartered company said.

"Consistent with Sensata Insight's strategy to provide high-value data insights to fleet operators, the acquisition of SmartWitness advances Sensata Insight's portfolio into capturing highly accurate data from the field through video and event re-creation, an increasingly important capability and fast-growing market segment," said Jeff Cote, CEO and President of Sensata Technologies.

"SmartWitness expands on Sensata's recent acquisition of Xirgo Technologies by adding leading video hardware, software, and analytics services for fleets, with a highly complementary channel strategy leveraging TSP relationships as partners in delivering these solutions to market," he added.

Since 2017, SmartWitness has shipped over 250,000 connected devices to fleet customers through its telematics channel partners, making its solutions among the most widely adopted within the industry.

The company's solutions are used by fleets across several market segments, including commercial trucking, federal and municipal fleets, schools and public transit networks, and military and first responder vehicles.

At NYSE, Sensata Technologies Holding Plc, had closed at $56.70 per share on Monday, a rise of 0.51 percent compared to its previous close.