To improve its engineering offerings, SMTC Corp. said today it plans to acquire Pensar Corp., a Wisconsin electronics design and manufacturing services provider.
SMTC, a Toronto, Canada, contract electronics manufacturer, has agreed to purchase Pensar, a company that operates a 75,000-sq.-ft. facility at its Appleton headquarters, as well as a design center in Minneapolis. Financial terms of the deal were not disclosed.
SMTC has been expanding its manufacturing presence since last year when it acquired W.F. Wood Inc., a precision sheet-metal fabricator and customer system integrator in Holliston, Mass. In March, SMTC filed an initial public offering with the U.S. Securities and Exchange Commission to be listed on the Nasdaq exchange. The Canadian CEM hopes to raise $125 million.
Besides Toronto and Massachusetts, SMTC has operations in San Jose, Denver, Colo., Cork, Ireland, and Austin, Texas.
"We are very excited to have the Pensar team join our group of companies," said Paul Walker, SMTC's president and chief executive, in a statement. "We believe that both our customers and our organization will benefit from Pensar's engineering depth and front end design experience."