YAGEO, a global electronic component and service provider, agreed to acquire the Telemecanique Sensors business of Schneider Electric, a French multinational company that specialises in digital automation and energy management, for $729m. "We are delighted to welcome Telemecanique Sensors into YAGEO Group. The proposed acquisition will be a major milestone for YAGEO to further strengthen its position in the sensor market, which will be a significant growth driver for YAGEO. We will be able to deliver an even more comprehensive product range for our customers from passive components to a broad range of high-end electronic components. YAGEO will have more than $600m of annual revenue, which is around 14% of the revenue, across a wide selection of sensing products, creating a strong platform for our continued expansion," Pierre Chen, YAGEO Founder and Chairman.