M&A Deal Summary

ITT Acquires STX Pte.

On August 29, 1999, ITT acquired manufacturer STX Pte. from San Teh

Acquisition Highlights
  • This is ITT’s 1st transaction in the Manufacturing sector.
  • This is ITT’s 1st transaction in Singapore.

M&A Deal Summary

Date 1999-08-29
Target STX Pte.
Sector Manufacturing
Buyer(s) ITT
Sellers(s) San Teh
Deal Type Divestiture

Target

STX Pte.

Singapore
STX Pte. Ltd. is a manufacturer of conductive rubber switches (CRS) that are used in mobile telephones, computer keyboards, high-end remote control units and keyless entry systems. Company with primary manufacturing facilities located in the People's Republic of China. The company provides products to leading worldwide manufacturers within the mobile communications, transportation and industrial markets.

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Buyer(S) 1

Buyer

ITT

Stamford, Connecticut, United States

Category Company
Founded 1920
Sector Machinery
Employees10,600
Revenue 3.3B USD (2023)
DESCRIPTION

ITT is a manufacturer of engineered critical components and customized technology solutions for growing industrial end-markets in energy infrastructure, electronics, aerospace, and transportation. ITT was founded in 1920 and is based in Stamford, Connecticut.


DEAL STATS #
Overall 9 of 37
Sector (Manufacturing) 1 of 4
Type (Divestiture) 3 of 12
Country (Singapore) 1 of 1
Year (1999) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-12 K & M Electronics

West Springfield, Massachusetts, United States

K & M Electronics, Inc. is a designer and manufacturer of power supplies, electronic components and channel electron multipliers for military and commercial applications.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-08-31 FLOJET

Foothill Ranch,, California, United States

FLOJET Corp.manufactures air- and electric-driven pumps, motors and dispensing equipment for a variety of industries, including beverage, general industrial equipment, agricultural/lawn & garden, recreational vehicle, leisure marine and water purification.

Buy -

Seller(S) 1

SELLER

San Teh

Selangor, Malaysia

Category Company
Sector Manufacturing
Revenue 20M SGD (2015)
DESCRIPTION

San Teh is a rubber keypad manufacturer and rubber keypad supplier that offers a complete range of rubber products such as the EMI shielding gasket for a wide range of applications. During the two decades, San Teh has evolved from a homegrown manufacturing company of rubber silicon keypads to a world-class supplier with an established presence in the USA, Europe, and Japan. It also prides itself as a major contender in this region with state-of-the-art R& D facilities across Asia, while the international marketing office remains in Kuala Lumpur, Malaysia.


DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
Country (Singapore) 1 of 1
Year (1999) 1 of 1