MALVERN, PA, Dec. 23 -- Vishay Intertechnology Inc. will acquire SI Technologies Inc. in a deal worth $17.7 million, the companies said today. The deal is subject to SI shareholder approval.

The merger is expected to close by March. Vishay will also settle SI's outstanding bank debt of $10.5 million at closing.

For the fiscal year ended July 31, SI reported net sales of $36.2 million.

In a press release Vishay said, "This transaction will further reinforce our position in the transducer, instrumentation and systems markets and will complement and enhance our existing capabilities in these areas."

Vishay is one of the world's largest manufacturers of discrete semiconductors and passives. SI designs and manufactures industrial sensors and controls, and weighing and factory automation systems and related products.

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