The acquisition of MTS Systems Corporation (MTSC) by Amphenol Corp (APH) has been completed, ending the stock market listing of MTSC.
MTS Systems Corporation suspended its quarterly dividend in 2020 because of the COVID-19 pandemic. The company last raised its quarterly dividend by 20.0 percent to $0.30 per share in 2012 and had been paying a dividend every year since 2003.
On December 9, 2020, Amphenol Corp acquired the entire share capital of MTS Systems for $85.50 per share for an estimated total value of $1.7 billion. Amphenol itself last announced a 16 percent dividend hike in October 2020.
MTS Systems Corporation is a global supplier of high-performance test, simulation and measurement systems and sensors that was incorporated under Minnesota law in 1966. The company's operations are organized and managed in two reportable segments, Test & Simulation and Sensors. The Test & Simulation segment provides testing and simulation solutions including hardware, software and services that are used by customers in product development to characterize a product’s mechanical properties along with simulation systems for human response features. The Sensors segment provides sensing technologies and solutions used worldwide by design engineers and maintenance professionals. MTS Systems Corporation had been paying a dividend since 2003 prior to the dividend suspension announced in April 2020.