Pierre Chen
Taiwan electronics manufacturer Yageo, led by billionaire Pierre Chen, on Thursday announced its second overseas acquisition this month with the purchase of Schneider Electric’s Telemecanique Sensors for $729 million in cash. Shares in Yageo, whose parts are found in everything from mobile phones to tablet PCs and cars, gained 9.8% to NT$367 at the Taiwan Stock Exchange today on the news. That helped to lift Chen’s fortune to $3.8 billion on the Forbes Real-Time Billionaires List.
Yageo earlier in October also said it would buy Heraeus Nexensos GmbH — or Heraeus Nexensos — for approximately $78 million from Heraeus Holding. Hanau, Germany-headquartered Heraeus Nexensos makes thin-film temperature sensors for industrial and automotive automotive customers. The company has manufacturing sites in Germany and Malaysia and has about 480 full time employees.
“In a world that is rapidly moving towards everything smart and electrified, sensors are an integral part of that paradigm shift,” Chen said in a statement. See full announcements
💶