Cicor to acquire TT Electronics IoT Solutions from TT Electronics for $26m.

Cicor, a manufacturer of high-reliability electronics for medical, industrial, aerospace & defence applications, agreed to acquire TT Electronics IoT Solutions, an provider of electronic components and products, from TT Electronics, an engineer and manufacturer of electronics, for $26m. TT Electronics IoT Solutions employs more than 500 people at its sites in Hartlepool and Newport in the UK and Dongguan in China and has a total production area of around 25k square meters. In the last financial year, sales of GBP 70.2m were achieved by the acquired entities with a mid-single-digit operating margin (adjusted EBITDA).