Sensata Technologies Buys Preco Electronics
By Chad Elmore23 September 2020
Preco Electronics, a vehicle safety technology company, has been acquired by Sensata Technologies Inc. a technology company and a provider of sensor-rich solutions with operations and business centers in 11 countries. The acquisition of Preco is expected to extend Sensata’s capabilities in vehicle collision avoidance systems for industrial and heavy vehicle on/off-road (HVOR) markets. Terms were not disclosed.
“The acquisition of Preco Electronics further extends Sensata’s sensing content into areas related to the autonomous megatrend and builds scale in heavy-duty vehicle markets,” said Jeff Cote, CEO and President of Sensata, Attleboro, Mass. “We are confident that we can capitalize on the many growth opportunities on the horizon, as we strengthen our go-to-market capabilities and build on PRECO’s global reputation as the industry leader in collision mitigation and avoidance technology optimized for heavy-duty vehicles and equipment.”
Preco was founded in 1947 in Boise, Idaho, and has grown rapidly, encouraging the expansion of its radar technology and products such as its PreView blind spot monitoring system. The company’s future plans include the expansion of its core markets as well as targeting new sectors that complement Preco’s existing solutions for heavy-duty OEMs and end-users, fleet operators, and foreign and domestic authorities.