Bourns Acquires CTS Corporation’s Fuel Level Sensor Product Line Assets

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.

About CTS Corporation and its Fuel Card Sensors

CTS Corporation's fuel level elements and fully integrated sensors are specially designed and manufactured to perform in total immersion environments such as fuel tanks. The sensing element will withstand a variety of petroleum-based fuels and liquids and is adaptable for stationary or portable tanks. These products are often integrated in the fuel supply module of passenger cars or other combustion engine vehicles. Both custom fuel level sensor designs, and complete sensor assemblies can be provided depending on customer needs.

About Bourns

Bourns, Inc. is a leading manufacturer and supplier of position and speed sensors, circuit protection solutions, magnetic components, microelectronic modules, panel controls and resistive products. Headquartered in Riverside, California, USA, Bourns serves a broad range of markets, including automotive, industrial, consumer, communications, medical (low/medium risk)*, audio and various other market segments. Additional company and product information is available at www.bourns.com.

Bourns® and the Bourns logo are registered trademarks of Bourns, Inc. and may be used only with the permission of Bourns and proper acknowledgement. Other listed names and brands are trademarks or registered trademarks of their respective owners.

*Bourns® products have not been designed for and are not intended for use in "lifesaving," "life-critical" or "life-sustaining" applications nor any other applications where failure or malfunction of the Bourns® product may result in personal injury or death. See Legal Disclaimer Notice www.bourns.com/docs/legal/disclaimer.pdf