Vishay Intertechnology announced purchase agreement to acquire Barry Industries by December 31, 2021.
Vishay Intertechnology, Inc., one of the world’s largest manufacturers of discrete semiconductors and passive electronic components, announced that it has signed a definitive purchase agreement to acquire substantially all of the assets and certain liabilities of Barry Industries for $21 million, subject to working capital and net cash adjustments at closing. The all-cash transaction is expected to close on December 31, 2021, subject to the satisfaction of customary closing conditions.
Based in Attleboro, MA, privately-held Barry Industries is a leading globally recognized and vertically integrated manufacturer of semiconductor packaging and resistive components including terminations, resistors and attenuators. An ISO9001 certified, ITAR registered company, Barry Industries is an approved supplier to the leading manufacturers of military, commercial, aerospace, medical and fiber-optic devices.
“As a reliable and consistent generator of cash, Vishay has the resources to fund acquisitions while continuing to invest in organic capital expenditure growth projects and allocate capital to shareholders,” said Marc Zandman, Executive Chair and Chief Business Development Officer. “Acquiring Barry Industries is another step in our strategy to expand our product portfolio and strengthen our competitive positioning.”
Dr. Gerald Paul, President & Chief Executive Officer, stated, “Adding Barry Industries expands Vishay’s high frequency and high power resistor technologies. Barry has proven expertise in power and thermal management and a very capable team of design engineers. With this acquisition, we are broadening our opportunities to address growing communication applications in telecom infrastructure, military and automotive markets. We look forward to a seamless integration of Barry Industries with our Resistors business segment.”