RIVERSIDE, Calif., July 6, 2023 - Bourns, Inc., a leading manufacturer and supplier of electronic components for power, protection, and sensing solutions, announced today that it has acquired the fuel level sensor product line assets of CTS Corporation (NYSE: CTS), a global leader in the design and manufacturing of electronic components, sensors and actuators. The terms of the transaction were not disclosed.

"CTS Corporation has a reputation for engineering excellence and innovation. The acquisition of their fuel level sensor product line aligns with Bourns' strategy of providing the most advanced sensor solutions to our valued transportation customers while ensuring supply chain continuity," said Michel Potvin, President of Bourns Sensors Division.

"Bourns sees continuing opportunity for our strong global manufacturing capability to sustain the production of these critical legacy products in support of our worldwide customers. By supplementing our existing high-quality sensors with the acquisition of the CTS product line, we strengthen Bourns' position as a reliable and trusted supplier to our transportation customers," said Al Yost, President of Bourns, Inc.