ELKHART, Indiana (AP) -- CTS Corp., which makes electronic equipment, has agreed to buy privately held Swiss components maker Fordahl SA.
CTS, which is based in Elkhart, Indiana, did not disclose terms of the deal. But the company said Fordahl will generate an estimated $5 million in revenue in 2011 and is expected to have double-digit growth over the next several years.
Fordahl makes crystal oscillators that are used in products ranging from clocks to military equipment. CTS said the deal should open up markets for European military customers.
The agreement is subject to the approval of Fordahl shareholders. CTS said the deal should close within the next 30 days.
CTS makes electronic components and sensors that are used in several industries including the automotive, communications, medical, defense and aerospace sectors.
The company's shares rose 28 cents, or 2.6 percent, to $11.19 in midday trading.
