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CTS Acquires Filter Sensing Technologies

CTS | October 28, 2015

CTS Corporation (NYSE: CTS) announced that it has acquired Filter Sensing Technologies (FST). FST is a start-up founded by two Massachusetts Institute of Technology (MIT) Ph. D. graduates. FST is located in the Boston area with expertise in radio frequency measurement and control sensors for passenger car, commercial vehicle, off-road and other transportation applications. The acquisition also provides CTS with cutting edge intellectual property in this field.

The acquisition of FST provides CTS a core sensing technology utilizing proven radio/microwave frequencies to directly measure particulate levels in vehicle filters. This direct measurement method is superior to existing sensors as it improves the control and diagnostics of after treatment systems. This technology will enable both fuel economy and diagnostic improvements, ensuring optimal system performance. CTS’ demonstrated performance in ground transportation embedded electronics and software coupled with its expertise in radio frequency technology is the ideal fit to optimize and commercialize FST’s technology.

“We would like to welcome the FST team to CTS and are very excited to add this new technology to the CTS portfolio. It aligns well with our strategy to focus on innovative products that sense, connect and move,” said Kieran O’Sullivan, CEO of CTS Corporation. “This acquisition puts us in a position to introduce new products and open new markets for CTS that will drive future profitable growth.”

About CTS

CTS (NYSE: CTS) is a leading designer and manufacturer of sensors, actuators and electronic components to OEMs in the aerospace, communications, defense, industrial, information technology, medical, and transportation markets. CTS manufactures products in North America, Europe and Asia.

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This document contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events, and any other statements that are not based solely on historical fact. Forward-looking statements are based on management's expectations, certain assumptions and currently available information. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. These forward-looking statements are made subject to certain risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements. Examples of factors that may affect future operating results and financial condition include, but are not limited to: changes in the economy generally and in respect to the businesses in which CTS operates; unanticipated issues in integrating acquisitions; the results of actions to reposition our businesses; rapid technological change; general market conditions in the automotive, communications, and computer industries, as well as conditions in the industrial, defense and aerospace, and medical markets; reliance on key customers; unanticipated natural disasters or other events; the ability to protect our intellectual property; pricing pressures and demand for our products; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters as well as any product liability claims; and risks associated with our international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. Many of these, and other, risks and uncertainties are discussed in further detail in Item 1A. of the Annual Report on Form 10-K. We undertake no obligation to publicly update our forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.