(Editor's note: This is the first in a weekly series of stories spotlighting filings by local companies of regulated business activities with the Securities and Exchange Commission.)
PROVIDENCE – Sensata Technologies Holding PLC plans to sell its Insights Business to a Los Angeles private equity firm for $165 million.
In an
8-K form filed Sept. 3 with the Securities and Exchange Commission, Attleboro-based Sensata expects to record a noncash, pretax charge of approximately $95 million in the third quarter of 2024 when it enters the purchase agreement with Balmoral Funds.
Sensata, which expects to close the all-cash deal this year, now projects revenue for the fourth quarter to be in the range of $920 million to $950 million.
Launched in January 2023, Sensata’s Insights Business provides end-to-end Internet of Things solutions for worksite and asset monitoring, supply chain and logistics, and telematics. It offers proprietary technology to ensure maximum data quality and relevance to empower decisions and inspire the right actions to reduce costs, avoid problems and enhance safety.