LISLE, IL -- Molex has signed a definitive agreement to acquire fellow connector maker FCT Electronics Group for an undisclosed amount. The deal is pending governmental approval and is expected to close in the third quarter.

Munich-based FCT designs and manufactures custom mixed-layout connectors and cable assemblies. According to Tim Ruff, Molex senior vice president of business development and corporate strategy, the acquisition will help expand Molex’s presence in the global medical electronics, industrial, telecom and aerospace markets.

“FCT Electronics Group is a great fit for Molex because it expands our ability to provide customized connector and cable assembly solutions across a broad range of end markets,” Ruff said. “FCT Electronics Group is well known for its technology and service as well as the depth and breadth of its product offering. It has a long history of success because of its excellent team of talented, experienced professionals with deep customer relationships across many markets.”

Toni Kling, FCT Electronics Group founder and CEO, thinks that Molex’s global sales and distribution reach will give both companies the opportunity for faster growth.

“We offer specialized connectors and cable assembly solutions for our customers,” he said. “With Molex’s global sales and marketing team, we expect to significantly increase our market reach in both new geographies and markets.”

Molex is the world's third-largest connector supplier, according to Bishop Associates, a research firm that has tracked the market for more than 20 years.